The centibillionaire clubthose with over $100 billion in wealth"likely will be welcoming a new member soon. Forbes now estimates Michael Bloomberg's wealth at $94.5 billion, making him the sixth richest American. If his wealth continues to grow at the rate it's grown since 2013, Michael Bloomberg will join the centibillionaire club by the end of the year. At that point, he will be the 10th American to have reached that wealth level. Forty years ago, the mere billionaire club had just 13 members, and Daniel Ludwig, the richest American at the time, had a total wealth (adjusted for inflation) of $6.15 billion. Today, $1 billion of wealth in one person's hands often means far too much political power, but that astounding amount of money is now considered a rounding error in the context of America's largest fortunes. America's 20 richest billionaires spent more than the entire Biden campaign on the 2020 elections. According to political scientists Jeffrey Winters and Benjamin Page, the political influence of each of the 400 richest Americans is 22,000 times that of the average member of the bottom 90%. What all Americans whose wealth has passed the $100 billion threshold have in common ... is tax avoidance. Between 2013 and 2018, none made federal income tax payments greater than 11% of their wealth growth"and all but two paid less than 5%. Even Ronald Reagan recognized that it's "crazy" for a society to tax a bus driver at a higher rate than a millionaire.