What crisis? Billionaires’ fortunes doubled since 2009

To better grasp the vast wealth of the ultra-high net-worth individuals (UHNW), their combined fortunes are now greater than the GDP of any country aside from the United States and China, and could fund the entire US budget deficit until 2024, according to the report. 

The combined fortune of the world's billionaires now stands at $6.5 trillion, up from $3.1 trillion in 2009, according to the Billionaire Census.

On an interesting side note, the bulk of the wealth of the world’s richest derives from the recently rescued financial and banking sector (17 percent), with manufacturing making up just 8 percent. 

The United States leads the billionaire class with 515, for a combined wealth of over $2 trillion dollars. China comes in a distant second place with 157; followed by Germany at 148; the United Kingdom at 135; and Russia with 108.

“The vast expansion in the incomes of the super-rich comes even as social services are being slashed in the US, Europe and throughout the world,” the World Socialist Website railed. “Earlier this month, food stamp benefits were reduced for the first time in US history, and extended unemployment benefits are scheduled to expire entirely at the end of the year.”

The combined net worth of the 515 billionaires in the United States would be able to fund the food stamp and extended unemployment benefit program for 100 years, it added.