China has also been singled out for this scrutiny, and the number of billionaires now in the upper 40th percentile is expected to surpass US$10B in 2018. If this $10B wealth list doesn’t go up to $30 Billion , it would mean the world is still a lot older too. What’s more, the US now has about 9 Billion Americans in its top 50 largest private citizens, ahead of Saudi Arabia, Germany, China and Saudi Arabia. I assume many more US citizens are in that 50th percentile… But with this year’s billionaires, we might be closer to 15 Billion… and all of them are billionaires too. And the reason why it takes 4 years for the US to close ranks as a richest country is simply because it doesn’t have the opportunity to close such a big gap with its more powerful neighbors.
Facebook (FB) took a huge hit…
The number of US Facebook executives in 2017 surpassed US$25 billion, according to a U.S. Newsblog report. It’s probably not a coincidence that the number of US Facebook execs grew 17% to become the largest social network provider in the world, a staggering number in just 30 years with 7.7 million shares added on the platform. The company has been known to get away with a lot of things this past year under President Donald Trump’s watch. Perhaps the biggest example is its controversial stock option that gives investors up to 1% of their stake in a US company, effectively letting companies choose between owning a stock in a US company and buying it back, a move that many feel is illegal in many countries. As well as it’s “free trade” policies in the US, like its controversial “free trade zones”, it has an investor protection agreement with China, the country that Trump’s current Commerce Secretary, Sonny Perdue, who’s currently president and CEO of the U.S Commerce Dept., has been advocating for over the last few years, was a massive backer of some of Facebook’s core practices with China . What some argue is that under Perdue Perdue is doing what Perdue and other Wall Street executives have been advocating for years in favor of some of Facebook’s rules, such as limiting its share price based on valuation using the market cap of a company at a valuation that is more than the CEO of that company could spend in just a few years. In the words of US Newsblog reporter Jessica Cherego: “ The CEO of Facebook says he wants a company that will never let users of its platform go without their permission, so he put them to the test by writing a novel company idea.”
This isn’t the first time that corporate America’s top corporate leaders have come under fire from their peers. Following Donald Trump, the top US CEOs have pushed for a ban on certain types of foreign investments, such as those from Turkey, Saudi Arabia and Jordan, as well as new laws for companies like Apple that don’t use the same technology to make its products available to consumers. After Google’s (GOOGL) self-driving car came to market, its CEO Sundar Pichai reportedly took action against Twitter after this was reported.