South African billionaire Johann Rupert has enjoyed a sudden surge in wealth. His expanding fortune, like those of billionaires around the world, is not a sign of brilliance or achievement. It is a symptom of a system built to funnel wealth upward into the hands of the 1%.

Rupert’s net worth jumps from $13.7 billion to $19.1 billion in under a year, powered by sales of high-end jewelry through Richemont, the luxury goods holding company he founded. With his exploding profits he invests in hospital networks, viewing them simply as financial assets, not the essential services the rest of us — the 99% — need and have the right to. The headlines call it “performance,” but anyone living outside the 1% knows it is extraction.

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