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Elon Musk - 1 Musk - 1 Jeff Bezos - 1 James Pethokoukis - 1 Pethokoukis - 1 John Sabelhaus - 1 Sabelhaus - 1
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☆ Elon Musk is on track to become a trillionaire by 2027. Here's why the rich keep getting richer
  + stars: | 2024-10-12 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com   time to read: +3 min
Elon Musk is on track to become the world's first trillionaire by 2027, according to a recent report from Informa Connect Academy. Of the world's billionaires, Musk is the closest to that 13-figure mark, and his wealth is growing. At the start of 2020, Musk was worth about $28.5 billion, according to the Bloomberg Billionaires Index. "Over the past quarter century in particular, changes in tax policy have made it much more difficult to tax the rich," Sabelhaus said. Watch the video above to learn more about how the rich keep getting richer and what it means for the U.S. economy.
Persons: Elon Musk, Musk, Jeff Bezos, James Pethokoukis, Pethokoukis, John Sabelhaus, Sabelhaus Organizations: Informa Connect, Bloomberg, American Enterprise Institute, Federal Reserve, Brookings Institution Locations: U.S
☆ The U.S. retirement system gets a ‘C+’ grade, experts say — even though it’s worth $39 trillion. Here's why
  + stars: | 2022-09-19 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +9 min
The U.S. has a voluntary retirement savings system. But most IRA funds aren't contributed directly — they were first saved in a workplace retirement plan and then rolled into an IRA. 1 issue," Will Hansen, chief government affairs officer at the American Retirement Association, a trade group, said of workplace retirement savings. "[However], the retirement system is actually a good system for those who have access," Hansen said. In such cases, it may not be fair to place primary blame on the structure of the U.S. retirement system, Hansen said.
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