Druckenmiller argues that for every billionaire created, 400,000 people exited extreme poverty over the same period.
“And with regard to all this other talk about billionaires and so forth. So during that same period, you've created 2,500 billionaires, but you've brought a billion people out of poverty.”
“Let's just take poverty in The United States. It was 26% a few decades ago. It was 16% in the financial crisis, and it's 13% now. It's at an all time low.”
Druckenmiller says top and bottom income quintiles had same percentage gains after transfers and taxes.
“In fact, they're doing better than they've done in quite some time. Are they doing well enough? No. Are they doing as good as Jeff Bezos?”