Technology and the billionaire class

As Anand Giridharadas points out on pg 86 of his Winners Take All, the eight billionaires who can account for half the world’s wealth all owe their income to technology, albeit to varying degrees:

Six of those eight made their money in the supposedly equalizing field of technology: Gates, Zuckerberg, Jeff Bezos of Amazon, Larry Ellison of Oracle, Carlos Slim of Telmex and other Mexican businesses, and Michael Bloomberg, the purveyor of computer terminals. Another, Amancio Ortega, who built the retailer Zara, was famous for applying advanced technology to manufacturing and for automating his factories. The final member of the gang of eight, Warren Buffett, was a major shareholder in Apple and IBM.

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