If we had a py chart that showed the wealth inequality of the world with green being the top richest people and red being the poorest people in the world the chart would be half red half green.
Per Reuters: “As decision makers and many of the super-rich gather for this week’s World Economic Forum (WEF) annual meeting in Davos, the charity’s report suggests the wealth gap is wider than ever, with new data for China and India indicating that the poorest half of the world owns less than previously estimated.
Oxfam, which described the gap as “obscene”, said if the new data had been available before, it would have shown that in 2016 nine people owned the same as the 3.6 billion who make up the poorest half of humanity, rather than 62 estimated at the time.
In 2010, by comparison, it took the combined assets of the 43 richest people to equal the wealth of the poorest 50 percent, according to the latest calculations” (2017.)
The problem is the way capitalism is structured favors those at the top. Take Bill Gates (the world’s richest man) as an example.
Mr. Gates has seen his fortune rise by 50 percent or $25 billion since announcing plans to leave Microsoft in 2006, despite his efforts to give much of it away.
“If billionaires choose to give their money away then that is a good thing. But inequality matters and you cannot have a system where billionaires are systematically paying lower rates of tax than their secretary or cleaner,” Lawson said.
Per Reuters:”Oxfam bases its calculations on data from Swiss bank Credit Suisse and Forbes” (2017.)
For the record the eight richest men are: Bill Gates, Inditex founder Amancio Ortega, veteran investor Warren Buffett, Mexico’s Carlos Slim, Amazon boss Jeff Bezos, Facebook’s Mark Zuckerberg, Oracle’s Larry Ellison and former New York City mayor Michael Bloomberg. What do you think?