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Stadler explained that the super-rich were able to benefit from the crisis because they had “the stomach” to buy more company shares when equity markets around the world were crashing. Billionaires typically have “significant risk appetite” and were confident to gamble some of their considerable fortunes.
The fact that billionaire wealth had increased so much at a time when hundreds of millions of people around the world are struggling could lead to public and political anger, Stadler said. “Is there a risk they may be singled out by society? Yes,” he said. “Are they aware of it? Yes.”
He has previously warned that the widening inequality gap between rich and poor could lead to a “strike back.”
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