#BernieSanders Lays Out Plan to Fight #Oligarchy as Wealth of Top #Billionaires Passes $10 Trillion

"If there was ever a moment when #progressives needed to communicate our vision to the people of our country, this is that time," wrote Sen. Bernie Sanders. "Despair is not an option."

Jake Johnson
Dec 31, 2024

"A Bloomberg analysis of billionaire wealth published Tuesday found that the combined fortunes of the 500 richest people on the planet surpassed $10 trillion this year, a finding that came shortly after U.S. Sen. Bernie Sanders issued an urgent call to action to prevent the emergence of 'an oligarchic and authoritarian society.'

"The new analysis notes that the world's top 500 billionaires 'got vastly richer' this year with the help of "an indomitable rally in U.S. technology stocks."

"Just eight billionaires— #ElonMusk, #MarkZuckerberg, #JensenHuang, #LarryEllison, #JeffBezos, #MichaelDell, #LarryPage, and #SergeyBrin—added more than $600 billion to their collective wealth in 2024 and accounted for 43% of the $1.5 trillion increase in net worth among the world's 500 richest people, according to Bloomberg.

"'But it was Musk—the so-called 'first buddy' of President-elect Donald Trump after unprecedented support for his reelection campaign—who dominated the world's wealthiest in 2024,' Bloomberg observed, adding that Trump himself also saw his fortune surge to a record high this year, 'boosted by the performance of his majority stake in Trump Media & Technology Group Corp.'

"Musk's use of his enormous fortune to influence the U.S. political system—including via his purchase of one of the world's largest social media platforms and donations to Trump's 2024 campaign—amplified existing concerns about the corrosive impact of massive wealth concentration on democracy.

"And #WealthInequality in the U.S. could soon get worse, with Trump and the incoming Republican-controlled Congress set to pursue another round of tax cuts for the #UltraRich and large #corporations."

Read more:
https://www.commondreams.org/news/bernie-sanders-billionaire-wealth

#TaxTheRich #EatTheRich #Oligarchy #CorporateColonialism #Corporatocracy #Authoritarianism #TechBros #CapitalismMustDie

Nvidia CEO Jensen Huang has warned that China will beat the United States in the artificial intelligence race, the Financial Times reported on Wednesday. https://www.japantimes.co.jp/business/2025/11/06/tech/nvidia-jensen-huang-china-ai/?utm_medium=Social&utm_source=mastodon #business #tech #nvidia #jensenhuang #china #ai #tech #semiconductors #chipmakers

Nvidia making history last week by becoming the first company ever to have a market value of $5 trillion is just one way it’s casting a shadow over the global economy. https://www.japantimes.co.jp/business/2025/11/03/tech/nvidia-5-trillion-market/?utm_medium=Social&utm_source=mastodon #business #tech #nvidia #jensenhuang #semiconductors #ai #chipmakers #tech #markets

Nvidia achieved a historic $5 trillion market capitalization on Wednesday as CEO Jensen Huang’s spree of deals catapults the artificial intelligence frenzy to new heights. https://www.japantimes.co.jp/business/2025/10/30/tech/nvidia-5-trillion-firm-ai/?utm_medium=Social&utm_source=mastodon #business #tech #nvidia #ai #semiconductors #chipmakers #tech #jensenhuang

Nvidia CEO Jensen Huang has said that the U.S. can win the AI battle if the world, including China’s massive developer base, runs on Nvidia systems. https://www.japantimes.co.jp/business/2025/10/29/tech/nvidia-ai-supercomputers-us-china/?utm_medium=Social&utm_source=mastodon #business #tech #nvidia #jensenhuang #chipmakers #semiconductors #ai #china #us #trade

King Charles III called for the defense of Ukraine and the environment as he welcomed U.S. President Donald Trump and top tech and finance executives for a lavish state dinner at Windsor Castle. https://www.japantimes.co.jp/news/2025/09/18/world/apple-citi-trump-king-charles/?utm_medium=Social&utm_source=mastodon #worldnews #kingcharlesiii #apple #timcook #citi #janefraser #nvidia #jensenhuang #blackstone #steveschwarzman #arm #renehaas #rupertmurdoch #us #donaldtrump #uk

China’s cyberspace regulator has instructed companies including Alibaba to halt orders for Nvidia’s RTX Pro 6000D, a semiconductor for workstations that can be repurposed for artificial-intelligence applications. https://www.japantimes.co.jp/business/2025/09/18/tech/china-nvidia-ai-chip/?utm_medium=Social&utm_source=mastodon #business #tech #china #nvidia #chipmakers #jensenhuang #ai #huawei

Nvidia CEO Jensen Huang says the company is in talks with the U.S. over the potential offering of a more powerful chip to China than a model currently greenlit for sale to the country. https://www.japantimes.co.jp/business/2025/08/22/tech/nvidia-ceo-taipei-visit/?utm_medium=Social&utm_source=mastodon #business #tech #taiwan #tsmc #nvidia #chipmakers #jensenhuang

U.S. President Donald Trump’s controversial plan to take a cut of revenue from chip sales to China offers U.S. companies a model for circumventing years of trade tensions with the Asian giant. https://www.japantimes.co.jp/business/2025/08/14/tech/trump-deal-nvidia-trade-war/?utm_medium=Social&utm_source=mastodon #business #tech #nvidia #amd #semiconductors #jensenhuang #us #donaldtrump #trade #tariffs #china

U.S. President Donald Trump has suggested he might allow Nvidia to sell a scaled-down version of its next-generation advanced graphics processing unit chip in China. https://www.japantimes.co.jp/business/2025/08/12/tech/trump-nvidia-ai-chips-china/?utm_medium=Social&utm_source=mastodon #business #tech #jensenhuang #nvidia #semiconductors #china #ai #us #donaldtrump #trade #tariffs

This year's World Artificial Intelligence Conference — China’s most important artificial intelligence summit — is taking place at a critical juncture in the U.S.-Chinese tech rivalry. https://www.japantimes.co.jp/business/2025/07/25/tech/deepseek-trump-china-ai-forum/?utm_medium=Social&utm_source=mastodon #business #tech #ai #jensenhuang #taiwan #china #tech #us #donaldtrump #deepseek

The Trump administration has dialed back aggressive measures against China and reversed its position on technology controls as the president angles for a Chinese trip later this year. https://www.japantimes.co.jp/news/2025/07/22/asia-pacific/politics/trump-beijing-china-hawks/?utm_medium=Social&utm_source=mastodon #asiapacific #politics #china #chipmakers #nvidia #jensenhuang #us #donaldtrump #trade #tariffs #republicans

Unknown to the general public three years ago, Jensen Huang is now one of the most powerful entrepreneurs in the world as head of chip giant Nvidia. https://www.japantimes.co.jp/business/2025/07/21/tech/jensen-huang-ai-visionary/?utm_medium=Social&utm_source=mastodon #business #tech #jensenhuang #ai #nvidia

Nvidia plans to resume sales of its H20 AI chip to China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance. https://www.japantimes.co.jp/business/2025/07/15/tech/nvidia-h20-ai-chip-china-us/?utm_medium=Social&utm_source=mastodon #business #tech #jensenhuang #nvidia #china #semiconductors #chipmakers #tech #us #huawei #ai

Malaysia will now require permits for exports of high-performance U.S. artificial intelligence chips, suggesting the government is aiming to clamp down on any possible diversion of it to places like China. https://www.japantimes.co.jp/business/2025/07/14/tech/malaysia-ai-chip-us-china-smuggling/?utm_medium=Social&utm_source=mastodon #business #tech #malaysia #semiconductors #us #china #ai #nvidia #jensenhuang

Nvidia Chief Executive Officer Jensen Huang said the U.S. government doesn’t need to be concerned that the Chinese military will use his company’s products to improve their capabilities. https://www.japantimes.co.jp/business/2025/07/14/tech/nvidia-huang-china-ai-chips/?utm_medium=Social&utm_source=mastodon #business #tech #nvidia #jensenhuang #china #us #ai #semiconductors

#BernieSanders Lays Out Plan to Fight #Oligarchy as Wealth of Top #Billionaires Passes $10 Trillion

"If there was ever a moment when #progressives needed to communicate our vision to the people of our country, this is that time," wrote Sen. Bernie Sanders. "Despair is not an option."

Jake Johnson
Dec 31, 2024

"A Bloomberg analysis of billionaire wealth published Tuesday found that the combined fortunes of the 500 richest people on the planet surpassed $10 trillion this year, a finding that came shortly after U.S. Sen. Bernie Sanders issued an urgent call to action to prevent the emergence of 'an oligarchic and authoritarian society.'

"The new analysis notes that the world's top 500 billionaires 'got vastly richer' this year with the help of "an indomitable rally in U.S. technology stocks."

"Just eight billionaires— #ElonMusk, #MarkZuckerberg, #JensenHuang, #LarryEllison, #JeffBezos, #MichaelDell, #LarryPage, and #SergeyBrin—added more than $600 billion to their collective wealth in 2024 and accounted for 43% of the $1.5 trillion increase in net worth among the world's 500 richest people, according to Bloomberg.

"'But it was Musk—the so-called 'first buddy' of President-elect Donald Trump after unprecedented support for his reelection campaign—who dominated the world's wealthiest in 2024,' Bloomberg observed, adding that Trump himself also saw his fortune surge to a record high this year, 'boosted by the performance of his majority stake in Trump Media & Technology Group Corp.'

"Musk's use of his enormous fortune to influence the U.S. political system—including via his purchase of one of the world's largest social media platforms and donations to Trump's 2024 campaign—amplified existing concerns about the corrosive impact of massive wealth concentration on democracy.

"And #WealthInequality in the U.S. could soon get worse, with Trump and the incoming Republican-controlled Congress set to pursue another round of tax cuts for the #UltraRich and large #corporations."

Read more:
https://www.commondreams.org/news/bernie-sanders-billionaire-wealth

#TaxTheRich #EatTheRich #Oligarchy #CorporateColonialism #Corporatocracy #Authoritarianism #TechBros #CapitalismMustDie