Priscilla Chan and Mark Zuckerberg. Photo: Ian Tuttle/Getty Images for Breakthrough Prize

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.

Winners:

  • New billionaires in 2019 include White Claw creator Anthony von Mandl, cosmetics maven Kylie Jenner and Takeaway.com founder Jitse Grown.
  • The 172 American billionaires on Bloomberg's list added a collective $500 billion to their net worth. Facebook CEO Mark Zuckerberg was up $27.3 billion and Microsoft co-founder Bill Gates increased his wealth by $22.7 billion.
  • China now has 54 billionaires, second only to the U.S.

Losers:

  • WeWork’s Adam Neumann is still a billionaire, but the company's valuation imploded from $47 billion to $8 billion during the year.
  • Rupert Murdoch's fortune dropped by about $10 billion after proceeds from Fox's sale of assets to Disney were distributed among his children.

Go deeper: Billionaire philanthropists turn money into influence

Go deeper

Updated 23 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 19,497,292 — Total deaths: 723,854 — Total recoveries — 11,823,105Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 4,994,276 — Total deaths: 162,381 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid.
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Trump signs 4 executive actions on coronavirus aid

President Trump speaking during a press conference on Aug. 8. Photo: Jim Watson/AFP via Getty Images

President Trump on Saturday signed four executive actions to provide relief from economic damage sustained during the coronavirus pandemic after talks between the White House and Democratic leadership collapsed Friday afternoon.

Why it matters: Because the Constitution gives Congress the power to appropriate federal spending, Trump has limited authority to act unilaterally — and risks a legal challenge if congressional Democrats believe he has overstepped.

7 hours ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.