The planet is populated by 2,668 billionaires, according to a study by UBS bank published Thursday. Asked Saturday in Forum, the historian Fabrice d’Almeida explains that the ultra-rich generally prefer the adage “to be happy, live hidden” and that some render great services to society.
These ultra-rich people hold a total fortune of 12.706 billion dollars, according to the UBS study. The question arises of the true power of these immense fortunes. This is difficult to measure. “Especially since a good part of them have the technique of living in hiding in order to live happily. And therefore to exert an influence as discreet as possible on the legislation and the organization of society”, underlines Fabrice d ‘Almeida, author of the book The World History of the Rich, recently published by Plon.
“A good part of them act by lobby, by interposed firm”, he specifies. “Sometimes there are pieces of legislation that are favorable to them, which we don’t know they are behind. In the same way, to negotiate with the tax authorities, they have the same methods, Media tycoon Rupert Murdoch with then-US presidential candidate Donald Trump at the second-tier Scottish golf course in Aberdeen, Scotland, in June 2016. [Carlo Allegri – REUTERS]with law firms.
According to him, few are the ultra-rich who seek to directly influence political power. “Donald Trump or Silvio Berlusconi are in a way exceptions. More often, they behave like Rupert Murdoch, supporting a political figure. Murdoch is this billionaire of Australian origin who supports Margaret Thatcher and who becomes a from backers of the Republican Party, to the point of supporting Donald Trump. Moreover, today, he is taking a step back from the thunderous billionaire of the Republican Party.”
Without the rich, we go straight into the wall
According to the historian, society deteriorates in the absence of the rich. “The Soviet Union, which abolishes wealth, found itself for a long time with a stall in terms of standard of living compared to other European nations”, he illustrates. He also takes China as an example. The Maoist regime’s planning system totally disrupted the economy and caused several famines. “China has been doing well since 1978 and 1982, since a new political leader, Deng Xiaoping, decided to reintroduce the private sector and individual initiative, thus allowing the return of capitalism in China.”
The capitalist system is not perfect, admits Fabrice d’Almeida. But, he says, it has lifted more than a billion people out of poverty in the past 50 years. As for the ultra-rich, we must not put them all in the same basket, underlines the historian. Some have been “predators”, such as financial scammer Bernard Madoff. But others have been very helpful, he says. An example? Bill Gates, who creates “software systems that benefit the entire planet and then puts his wealth to use in philanthropy.”
fewer billionaires
In any case, the number of billionaires has been reduced in one year. UBS had 2,755 ultra-rich in 2021, a hundred more than the 2,668 in 2022, for a cumulative fortune of 13,100 billion. In detail, 360 individuals left the ranking and 273 joined it over one year.
The data was taken in March 2022. The Three Keys Bank reports that the total number of high net worth individuals and their wealth is expected to have declined further since due to the fall in financial markets.
The authors of the study point out that the current context is not conducive to a boom in the number of super-rich: “The rapid acceleration of interest rates, economic starts and stops due to the pandemic and the war in Europe fueled market uncertainty and volatility, with fortunes being created and eroded almost at the same rate.”
Interview radio: Renaud Malik
Web adaptation: Antoine Michel with ats