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Home Business World's richest face tax squeeze after 40% run-up in fortunes

World’s richest face tax squeeze after 40% run-up in fortunes

The world’s wealthiest 500 individuals are now worth $8.4 trillion, up more than 40% while Covid began its devastation. Meanwhile, the economy’s biggest winners, the tech corporations that created many of these vast fortunes, pay lower tax rates than grocery clerks, and their mega-wealthy founders can exploit legal loopholes to pass huge windfalls onto heirs largely tax-free.The world’s wealthiest 500 individuals are now worth $8.4 trillion, up more than 40% while Covid began its devastation. Meanwhile, the economy’s biggest winners, the tech corporations that created many of these vast fortunes, pay lower tax rates than grocery clerks, and their mega-wealthy founders can exploit legal loopholes to pass huge windfalls onto heirs largely tax-free.Read MoreBusiness News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

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