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The 10 richest Americans got $365 billion richer in the past year. Now they’re on the verge of a huge tax cut

  • The richest 10 Americans grew their wealth by $365 billion between April 2024 and April 2025, according to Oxfam.
  • This surge occurred amid debates over a Republican bill to extend Trump-era tax cuts that critics say would favor the wealthy.
  • Elon Musk, Tesla's CEO, accounted for over half of the gains with an increase of $186.1 billion, while other billionaires also saw large rises.
  • Oxfam estimated it would take 726,000 years for 10 median US workers earning just over $50,000 annually to earn what these billionaires gained in one year.
  • The bill is expected to deepen wealth inequality by delivering most benefits to the top 10%, while cutting nearly $1 trillion from safety net programs.
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The 10 richest Americans got $365 billion richer in the past year. Now they’re on the verge of a huge tax cut

Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam.

·Atlanta, United States
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Wral News broke the news in Raleigh, United States on Wednesday, May 21, 2025.
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