Only 2.7 percent of billionaire wealth sits in homes, yachts, and personal goods. The rest is ownership in the companies that employ workers and produce output

Only 2.7 percent of billionaire wealth sits in homes, yachts, and personal goods. The rest is ownership in the companies that employ workers and produce output, write Cato's @adamnmichel and @CatoEdwards. Read Cato’s new Policy Analysis on the Wealth Tax: https://t.co/WBEHaLaejf pic.twitter.com/erqBO2og0Y

— Cato Institute (@CatoInstitute) July 24, 2026