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Billionaire Wealth Soars to $8 Trillion Amid Shutdown

11/12/2025

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Summary

Story summary

U.S. billionaire wealth has risen to $8 trillion, up $5.1 trillion since 2017.
The rise coincides with a government shutdown affecting federal workers and public services.
The top 15 billionaires now hold more wealth than all billionaires did in 2017.
Critics including David Kass of Americans for Tax Fairness say tax cuts fueled this growth.
U.S. President Donald Trump faces backlash for prioritizing billionaire tax breaks over services like SNAP.

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Story summary

U.S. billionaire wealth has risen to $8 trillion, up $5.1 trillion since 2017.
The rise coincides with a government shutdown affecting federal workers and public services.
The top 15 billionaires now hold more wealth than all billionaires did in 2017.
Critics including David Kass of Americans for Tax Fairness say tax cuts fueled this growth.
U.S. President Donald Trump faces backlash for prioritizing billionaire tax breaks over services like SNAP.