The Irrelevance of That ‘3 Billionaires Have More Wealth Than Half of America’ Factoid

By Daniel C. Jensen:

Maybe Jeff Bezos, Bill Gates, and Warren Buffet have more wealth than all of the infants, children, students, handicapped, prisoners, and postgrads combined. But you don’t need a PhD to figure out that’s not useful knowledge.

Major financial news outlets like Institutional Investor and Fox Business quoted it. But they shouldn’t have. If you know a couple of basic facts about the United States population, you know it’s not worth quoting. It might be a fact, but it’s so meaningless that it’s actually deceitful.

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