The total wealth of the world’s billionaires has dipped from a record high last year amid a drop in global stock markets since Russia’s invasion of Ukraine, despite the planet’s richest people still holding a combined $12.7tn (£9.7tn) in assets. Those from the country with billionaire status almost all saw their fortunes stagnate or decline, with their total wealth dropping by more than $260bn compared with a year earlier. Millionaires for Humanity, a coalition of rich people calling for a global wealth tax on the super-rich to tackle inequality, said the Forbes list was “a slap in the face of society”. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskDjaffar Shalchi, a Danish multimillionaire businessman and founder of the initiative, said: “The Forbes rich list is a stark reminder of the obscenely unequal world in which we live. “The time for a wealth tax on people like me is long overdue.

Source: Forbes April 05, 2022 21:27 UTC