A tiny group of 24 people now hold $3.3 trillion, or 16% of all wealth, an amount equal to the GDP of France. These guys are now called “superbillionaires” by Forbes, because they have a new level of extreme wealth and power.

Forbes’ first billionaires list in 1987 had 140 people worth a combined $295 billion. Back then, the richest person was Japan’s Yoshiaki Tsutsumi, a real estate magnate with $20 billion. Today, the world’s richest person, Elon Musk, is worth $419.4 billion, which is 21 times what Tsutsumi had at his peak and over 2 million times more than the median U.S. household.

Superbillionaires amass extreme wealth

To qualify as a superbillionaire, a person needs to have at least $50 billion. Among them, 16 have over $100 billion, making them centi-billionaires. A decade ago, these kinds of fortunes barely existed. In 2014, this group held only 4% of all billionaire wealth. Now, their slice has quadrupled.

“Billionaires have always obviously controlled significant amounts of wealth, but now you’re talking about differences in the billionaire population themselves,” said Maya Imberg from Altrata, a global wealth intelligence firm. “It’s quite staggering just how much the net worths of some of these people have grown.”

Their money fuels luxury real estate, and every single one of them owns at least $100 million in personal residential properties. That figure is likely understated since many hold real estate under corporate names or through partners. Markets like New York, Los Angeles, Miami, and Aspen have seen a surge in nine-figure home sales and tall residential towers built specifically for the billionaire class.

Tech founders dominate the superbillionaire list

Most of the superbillionaires made their money in tech or industries boosted by technology. Of the 10 richest people, 6 come from tech, including Musk, Jeff Bezos, Mark Zuckerberg, Larry Ellison, Sergey Brin, and Steve Ballmer.

Unlike industrialists of the past, today’s tech billionaires built fortunes based on stock prices rather than physical assets. Their wealth can fluctuate by tens of billions in a single year, depending on investor sentiment. Zuckerberg, Bezos, and Nvidia’s Jensen Huang have all had swings of that scale.

Tech monopolies have also helped these billionaires amass their fortunes. Joseph Stiglitz, a Nobel Prize-winning economist, pointed out that current antitrust laws were designed for companies like Standard Oil, not tech giants. “Monopoly power has given rise to the potential of enormous amounts of wealth,” he said.

He also highlighted tax loopholes, calling them key to modern billionaire wealth accumulation. “These guys have, both at the corporate level and at the individual level, been even better at avoiding taxes than in making good products,” he said. The Tesla CEO’s $50 billion compensation package is one example of this system at work.

New money replaces old wealth

Unlike the generations that came before, where fortunes were built over decades, today’s tech-driven economy has also allowed founders to amass enormous sums in a matter of just a few years. Before his arrest in 2022, Sam Bankman-Fried, the now-disgraced founder of FTX, was worth $26 billion before the age of 30, for instance. A 2024 Heritage Foundation report noted that names like Rockefeller, Carnegie, and Vanderbilt have largely disappeared from the billionaire lists.

“The great American fortunes of today are new money, not old,” the report stated. Of the 97 billionaires who inherited wealth from the 2005 Forbes 400 list, less than half remain. Those who are still there were three times more likely to have fallen in rank than to have risen.

The shift started in the 1980s and 1990s, when globalization and technology reshaped industries. The internet and digital platforms allowed entrepreneurs to scale businesses faster than ever before. Sam Bankman-Fried, the disgraced crypto billionaire, built a $26 billion fortune before turning 30—though he lost it just as fast.

At the same time, wealth inequality has surged. In 2024, the top 1% of American households controlled $49.2 trillion, or 30% of all U.S. wealth. In the late 1980s, that figure was 23%.

With fortunes of this scale, superbillionaires have outsized influence over politics, media, and the economy. Musk owns Tesla, SpaceX, and X (formerly Twitter), Bezos owns The Washington Post, and Zuckerberg controls Facebook, Instagram, and Threads. Their power extends beyond wealth, shaping public opinion, policy, and markets.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Dogecoin is trading above the $0.20 level after days of intense selling pressure and market-wide volatility. Bulls have lost control of the price action, and DOGE is now at risk of further declines if it fails to hold key support. The broader meme coin market has also been hit hard, contributing to Dogecoin’s struggles as sentiment remains weak.

Top analyst Ali Martinez shared a technical analysis on X, revealing that DOGE is testing a high-time-frame support level around $0.18. This level has historically acted as a strong demand zone, making it crucial for bulls to defend it. If DOGE manages to hold above this support and reclaim the $0.22 level, a short-term recovery rally could be possible.

However, if selling pressure persists and DOGE loses the $0.18 support, the next stop could be significantly lower. Market conditions remain uncertain, and traders are closely watching whether Dogecoin can stabilize or if further downside is on the horizon. The next few days will be critical in determining whether DOGE can recover or if it will continue to follow the bearish trend that has dominated the market in recent weeks.

Dogecoin Testing Long-Term Demand Level

Dogecoin is trading below the $0.25 mark, a key price level that will determine short-term direction. Analysts are warning of further downside risks as the market continues to face heavy selling pressure. The meme coin sector has been hit the hardest during this correction, and Dogecoin is leading the way with a 36% drop in the past two weeks. Sentiment remains bearish, and investors are looking for signs of stability before considering any potential recovery.

Martinez shared a technical analysis on X, revealing that Dogecoin is trading above a critical support level around $0.18. This level is crucial for maintaining the long-term bullish structure.

If bulls manage to hold above this mark, it could prevent further downside and provide a foundation for a recovery rally. Martinez also notes that DOGE is currently holding around the lower boundary of a macro ascending channel. Historically, this level has acted as a strong support zone for price rebounds.

If Dogecoin holds this level, a massive rally could follow, potentially pushing the price back toward the $0.25 resistance level. However, if the support fails, DOGE could experience a deeper correction. The next few days will be critical in determining whether DOGE can sustain its bullish structure or if it will continue its downward trend.

Crucial Phase For DOGE Price Action

Dogecoin is trading at $0.20, sitting at a crucial short-term resistance level just below $0.21. Bulls are trying to regain control, but selling pressure remains strong, making it difficult for DOGE to break above this key price point. If bulls successfully reclaim the $0.21 level and push above the $0.25 mark, a strong rally into higher prices could follow, potentially shifting market sentiment in favor of buyers.

However, the downside risk remains significant. If DOGE fails to hold its current levels and loses support at $0.18, it could trigger a deeper correction, pushing the price toward lower demand zones. This level has historically acted as a critical support for Dogecoin, and losing it could lead to further sell-offs in the broader meme coin market.

The next few trading sessions will be crucial in determining the direction of DOGE. A breakout above resistance could signal the start of a recovery, while a failure to hold key levels may result in further bearish momentum. Traders are watching closely for confirmation of either scenario as meme coins continue to face heavy volatility in the current market conditions.

Featured image from Dall-E, chart from TradingView