Taxes

World’s Richest Face Tax Blow After 40% Wealth Surge to $8.4 Trillion

G-7 leaders expected to endorse tax accord this weekend
Biden is proposing to increase taxes on ultra-wealthy

With G-7 finance ministers reaching agreement on a landmark deal to overhaul global tax rules, the summit in the U.K. starts with some positive momentum. But as the group comes together face-to-face for the first time since 2019, many important issues remain to be dealt with. Bloomberg’s Annmarie Hordern previews the meeting. (Source: Bloomberg)

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By Ben Steverman, Laura Davison, and William Horobin

June 10, 2021 at 4:00 AM UTC

Updated on

June 10, 2021 at 11:52 AM UTC

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Amazon.com Inc. founder Jeff Bezos has the resources to launch himself into space. Elon Musk does, too.

In many ways, though, the richest people left the vast majority of the world behind long ago.