23 Mind-boggling Oligarchs Statistics to Know in 2024

Times, like many say, have evolved our world, but this has nothing to do with how certain countries are governed. Modern societies like China and Russia have not let go of the oligarchy system.

The oligarchies' whole idea is to seek power to control the masses for good or self. This class of persons has crept and taken control over the bedrock of their country. They can be confidently called the select few initiates. In 2022, the world's billionaire oligarchs had a net worth of more than $12.7 trillion, up from less than $1 trillion in 2000.

Most persons in the hierarchy system of affairs have had power handed over to them from their parents. Fame, military connections, and even social status contribute to bringing this sect of persons into power. Some might see it as an evil act that prevents many from getting the juiciness of society. Knowing about oligarchies will give you, our dear readers, a better idea of their ups and downs. Let's plunge into the must-know oligarchs' statistics of 2024.

Key Oligarchs Statistics

1. Power in the oligarchy system is placed in the hands of just a few persons.
2. Most times, there is a power tussle, which often leads to corrupt practices.
3. Oligarchy exists in several forms, from autocracy to monarchy, which can negatively affect society.
4. This system tends to place more value on caring for the ruling class over that of the masses they are to serve.
5. Most of the time, the masses are taken to the background as the elites climb higher in influence.
6. Oligarchy is seen by many as one that should stop to exist in our modern world.

General Oligarchs Statistics

Our world has a great gap between the rich and the poor, which keeps widening as recessions occur. Many have termed this the 1% to 99% spacing, which shows the length between the rich and the poor.

1. The Word Oligarchy Was First Used By A Philosopher Named Aristotle.

A Greek philosopher saw society's ills at the time and called the rule system an oligarchy. The word means the rule of a few in which decisions are made for selfish reasons. People under this mandate are often treated unjustly and could be likened to being in the worst state in an aristocratic government. Aristotle thought that an oligarchy differed from the aristocratic system of leadership. He believed that the former had to do with a few who ruled unjustly, while the latter had to do with the rulership of the best hands in society.

2. The Net Worth of Billionaires Worldwide Rose From $1 Trillion in 2000 to Over $12,7 Trillion At the End of 2022.

Billionaire oligarchies could accumulate wealth since they were their country's deciding factor. The wealth of these few persons each went from just $1trillion in 2000 to more than $12.7 trillion at the close of 2022.

3. Up to $152 Billion Was Added to the Wealth of the Richest People in Russia in 2023.

More persons in Russia are among the countries with the highest number of billionaires in 2023. The country has 110 known billionaires to its credit within the year. The total wealth of these individuals has also risen and has gone all the way to $505 billion from $353 billion in just a year.

4. There Are Billionaires Everywhere in the World, But the United States Leads As Home to the Wealthiest Oligarchs.

The United States, even with 735 billionaires like what it had in the past year, still takes the spotlight in 2023. 2023 was an eventful year, and it witnessed the death of several billionaires in the United States. These deaths and the fall of some from the list are not felt, as 60 new persons have made their way into the billionaire list.

5. The World Has About 2640 Billionaires Worth $12.2 Trillion in 2023.

The roller coaster many enjoy in the sea of wealth is falling as many got pushed off the list of billionaires in 2023, bringing it down to 2,640 people from a height of 2,668 in the past year. Wealth from this group has dropped by $500 billion within this period.

6. Most Billionaires On the Forbes List Hail From the United States.

The United States is at the forefront of billionaires in the world. It has as many as 735 Americans on the Forbes list of billionaires, with China trailing closely behind 562 billionaires, while India comes in third place with 169 persons. Germany reached the fourth place with 126 people, and the fifth place went to Russia, with 105 billionaires.

7. Technology Bigwigs in Beijing Lost $87 Billion Due to a Crackdown in 2021.

It all started when Ant Group's IPO was put to a stop in November 2020. Other large tech companies were also affected by government actions, which temporarily laid the economy winter. In early 2023, the Chinese government started bringing back sanity to the tech sector, a move in response to the cry out of entrepreneurs who had lost up to $87 billion. A lot happened during this period, including a 21% rise in unemployment. But the upside was the transfer of wealth to the state as companies like Alibaba got fined $2.8 billion, which was put into use by the state when paid.

8. Most Oligarchs Like to Store Their Wealth in Areas Like Shares and Stocks.

The vast majority of billionaires put their wealth into publicly-traded areas. This includes trading on stocks and shares that change over time. Investments such as this are not steady,as they rise and fall based on the workings of the trading market.

9. In 2023, Elon Musk, from the United States, Takesthe First Spot With a Net Worth of $253.2 Billion.

In 2023, Elon Musk will be the richest man on earth's surface. Much of his wealth comes from Space X and Tesla, a tech company.

10. More Than 3.5% of Global Wealth is in the Hands of About 2,750 Billionaires.

With so much wealth in the hands of few, we can only conclude that a few people dictate the move of affairs. Moreover, a large part of most countries' wealth is under the control of just a few numbers of persons. Over 3.5% of the world's wealth is under about 2,750 billionaires.

11. $38.7 Trillion in Wealth is Under Just 1% of American Citizens.

As we all know, wealth is not evenly shared in any part of the world. Some tend to have more than others. Most of it falls into the hands of a select few, leaving the lot with just little enough to get by. The United States is not different, as 1% of people control a vast 38.5% of its wealth. This finding, which occurred in September 2017, showed the oligarchies' level of control over people with low incomes. Another report showed that billionaires will rise by 2021 to cover as large as 70% of the nation's wealth.

12. A Strict Move Was Made Against the President of Russia to Push Back His Plan Against Ukraine.

Quite a lot of countries in 2022 moved unanimously to lay down sanctions on Vladimir Putin's Russia in a bid to force the president to surrender arms against the Ukrainians.

Oligarchs Statistics by Countries

In some countries, a few people have amassed wealth, so they exercise control over how events occur. Most of the time, these people do not care about how the poor feel; they only seek their own pockets. They are oligarchies because they are the key factors running the affairs, and they call the shots in their country.

13. The United States Has the Highest Number of Billionaires Globally.

For some years, many billionaires have spotlighted the country. Even though there have been many ups and downs, the US has remained strong, beating down the competition. 2023 was nodifferent, as Elon Musk topped the list of billionaires worldwide.

14. For Years, America Has Maintained the Top Spot in the World's List of the Wealthiest Oligarchs.

From 1991, the country remained top until 2010, when a shift downhill occurred. This change lasted for three years to pick up at the first place once more in 2014.

15. A Lot is Going on With Talks on How the United States Practices Oligarchy, Though it is a Democratic Country.

This idea came from many billionaires who decided what should not happen in the US. These elite few shape the country's policies and are involved in almost all aspects of the economy.

16. A United States Citizen Named Jeff Bezos Held the Title of the Wealthiest Person For Years Before His Fall.

Bezos's vast wealth climbed to $178 billion in 2023, surpassing many others on the billionaire list. After being in the spotlight for a long time, this made him the third richest man on earth. This report shows that he has been able to go ahead of Bill Gates and Warren Buffet in the race.

17. Bill Gates's Real-Time Wealth of $118.8 Billion Placed Him in 7th Place Worldwide.

Microsoft co-founder Bill Gates is worth $118.8 billion, which places him 7th in the world billionaire ranking.

18. Mark Zuckerberg, with a Net Worth of $115.9 Billion, is Seventhon the List of American Billionaires.

Mark Zuckerberg's journey to wealth and stardom started when he cofounded Facebook in his university days. The idea kicked off in 2004 and became the largest social media network. Sideways is WhatsApp and Instagram owned by a tech guru named Mark, who rejoined the arena of the world's richest in 2022. A net worth of $115.9 billion raised Zuckerberg to the 7th position on the list of the top 10 wealthiest men in the United States.

19. Many Have Always Seen China As a Communist State Until It Turned to Capitalism In the 1970s.

China became a communist nation in October 1949, ending the feud. This Cold War between the Chinese Communist Party (CCP) and Kuomintang (KMT) lasted long. Due to strains, it adoptedthe market economy system towards the end of 1976. This came about when the government relaxed its grip on the system. This made business owners find it troubling and hard to run their affairs. But as time passed, business owners grew their influence, bringing an oligarchy system into play.

20. A Large Portion of the Country's Wealth Rests in the Laps of the Technological Sector.

China has a booming tech that has taken the country to great heights in recent years.

21. The Founder of Byte Dance, Known as TikTok, is One of China's Billionaires.

TikTok boss in 2013 made it to the list of Forbes 30 wealthiest men in China. His worth stood at $55 billion at the close of 2022, which made him the second wealthiest man in China.

22. Russia, Like the State of China, Was a Communist Before Its Fall in 1991.

The country started as a communist in 1971 and fell in 1991. This caused it to move toward oligarchy, forcing many to adopt corrupt practices. Government officers are no longer mindful of what the masses think about them but seek only to fill themselves.

23. One of Vladimir's Favorites Owns a Huge Share in the Nation's Iron, Telecom, and Steel Areas.

Alisher Usmanov, the most loved Russian president, holds a great chunk of shares in vital areas of the country. This man has gathered much to himself, standing as the wealthiest oligarch in Russia.

Conclusion

Putting control into the hands of just a few persons has not helped the masses. Those in control often make decisions for selfish reasons, leaving the public in pain. Oligarchy has not in any way helped to reduce the pains of people experiencing poverty. It has rather put more money into the hands of the already rich. The world runs in such a way that the rich get richer, leaving the poor with crumbs. This, to many, is an ugly means of survival, as mostly seen in countries like the US, Russia, Iran, and China as well.

FAQs How can a country practice oligarchy?

When a large portion of a country's wealth is in the hands of just a few sects of persons, then oligarchy is in practice.

What makes a person an oligarchs in today's world?

Any business person who makes decisions without looking at the interests of others around him is an oligarch.

Who has wielded so much power as the richest person in the world?

Elon Musk now stands as the wealthiest person on earth, with a net worth of over $200 billion from Space X and his Tesla company.

How much does 1% of the wealthiest people in the United States control?

This group of people has $38.7 trillion of the wealth of the United States in their grip.

Which country has the highest GDP ranking when it comes to per capita?

Luxembourg in Europe is doing very well for itself, with a GDP of 143,320 to its credit.

ReferencesClick to expand sources

1. Forbes
2. US Department of State
3. Forbes
4. BBC
5. Bloomberg Billionaire Index
6. Forbes
7. Britannica
8. National Geography Society
9. US Today
10. Adda247
11. Financial Times
12. East Asia Forum
13. Reuters
14. Forbes
15. Forbes

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