8 Men As Rich As Half The World

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The gap between the super-rich and the poorest half of the global population is starker than previously thought, with just eight men, from Bill Gates to Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an analysis by Oxfam released Monday, the AP reports.

The same report a year earlier said that the richest 62 people on the planet owned as much wealth as the bottom half of the population. However, anti-poverty organization Oxfam Oxfam has revised that figure down to eight following new information gathered by Swiss bank Credit Suisse.

The AP says that Oxfam used Forbes’ billionaires list that was last published in March 2016 to make its headline claim. According to the Forbes list, Microsoft founder Gates is the richest individual with a net worth of $75 billion. The others, in order of ranking, are Amancio Ortega, the Spanish founder of fashion house Inditex, financier Warren Buffett, Mexican business magnate Carlos Slim Helu, Amazon boss Jeff Bezos, Facebook creator Mark Zuckerberg, Oracle’s Larry Ellison and Bloomberg, the former mayor of New York.

 

{Matzav.com}

5 COMMENTS

  1. As a republican.
    So explain supply side economics (trickle down) again! The republicans really need to give a good hard look and see if their policies match fact!

  2. Right. Bl$$mberg was always for the little guy. Like “just get up a little earlier to scrape the ice off your vehicle”.

  3. Bill Gates, for example, made his money by developing and selling a product – Windows operating system, and its offshoots. Absolutely no one was forced to buy it, to use it, or to keep upgrading it. The product itself is Microsoft’s intellectual property, and they could charge whatever they want for it. Obviously, there is the meeting point of how much people are WILLING to pay, versus how much they could ask for. That is called the market value. This isn’t food that Mr. Gates is hoarding, while others are starving.

    Warren Buffet, another man on the list, has been making all of his money from picking stocks, ever since his teens. Firstly, that pathway to incredible wealth is open to every single person who wishes to try, has few thousand dollars of starting capital, and is actually good at identifying rising stocks. Secondly, he isn’t taking advantage of anyone in his game, but happens to be far better than most, and is willing to take risks of losing his money.
    Anybody could whine about Buffet’s wealth, but are these complainers ready to study the stock market, sit untold hours over charts and reports, do the math, take risks, and invest?

    Then there is Sheldon Adelson, whose wealth comes from the casinos. Once again, is anyone forced to travel to Las Vegas and gamble, knowing that the odds are in favor of the house?

    Envy is easy; try becoming one of these moguls, instead.

    • Would anyone be complaining about entrepreneurs?

      It’s when they come with their team of lobbyists to curry massive favors,and then also come for massive government handouts because “they’re too big to fail”,and then also splurge cash on those politicians ,Etc.,Etc.,

      AND

      IT’s those with inherited wealth getting into Ivy leagues on legacy and spending most of their days partying on yachts

      ” Then there is Sheldon Adelson,whose wealth comes from the casinos. Once again, is anyone forced to travel to Las Vegas and gamble, knowing that the odds are in favor of the house?”
      YES.
      Making a killing catering to the others’ vices . The minimum you could do is give a large part back

  4. Bah. If I had that kind of money I would travel to orbit every couple of years (perhaps twenty million apiece?) while I get my very own lunar landing program ready. I also suppose seven other seats to the moon would be sold at some handsome pricetag.

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