The world's 500 richest people added $1.2 trillion to their collective net worth in 2019, boosting their holdings by 25% to $5.9 trillion, according to Bloomberg.
Why it matters: Income inequality has become a key issue for politicians around the globe, highlighted by the fact that the wealthiest 0.1% of Americans now hold a larger share of wealth at any point since 1929 — the start of the Great Depression.
The 2010s may be remembered as the decade when the global 1% accumulated unfathomable wealth, but it was also perhaps the best decade ever for the world’s poorest people.
The big picture: The rate of extreme poverty around the world was cut in half over the past decade (15.7% in 2010 to 7.7% now), and all but eradicated in China.
Elizabeth Warren is a Massachusetts senator known for her consumer advocacy and efforts to regulate big financial institutions. Her brainchild, the Consumer Financial Protection Bureau, was created in 2011.