"In remarks to Catholic newspaper Crux in July, which were published over the weekend, the Pope reflected on the "continuously wider gap between the income levels of the working class and the money that the wealthiest receive." "Yesterday [there was] the news that Elon Musk is going to be the first trillionaire in the world," he told the newspaper. "What does that mean, and what's that about?""
"The Pope's comments touch on an alarming trend as global inequality continues to climb. It's an especially troubling situation in the United States, which has seen its income gap grow for more than 30 years now. The richest 0.01 percent of Americans are enjoying massively accelerated income growth, with the top 12,000 households growing almost 27 times as fast as the income of the bottom 20 percent of earners."
Astronomical wealth concentration and a widening income gap are creating severe economic inequality and social risk. Estimates that top executives could reach trillionaire status underscore extreme wealth accumulation, especially within the tech industry and through large, performance-based corporate pay packages. The richest 0.01 percent of Americans have seen massively accelerated income growth, with the top 12,000 households' income rising nearly 27 times faster than the bottom 20 percent. This long-term divergence has intensified over decades, driven by executive compensation structures, corporate dynamics, and technological industry gains, raising concerns about fairness, social cohesion, and distribution of economic value.
Read at Futurism
Unable to calculate read time
Collection
[
|
...
]