Just 8 men own same wealth as half the world

[eznutz]

According to Oxfam, 8 men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

Winnie Byanyima, Executive Director of Oxfam International, said:

“It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 a day. Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.

Oxfam’s report shows how our broken economies are funnelling wealth to a rich elite at the expense of the poorest in society, the majority of whom are women. The richest are accumulating wealth at such an astonishing rate that the world could see its first trillionaire in just 25 years. To put this figure in perspective – you would need to spend $1 million every day for 2738 years to spend $1 trillion.

Public anger with inequality is already creating political shockwaves across the globe. Inequality has been cited as a significant factor in the election of Donald Trump in the US, the election of President Duterte in the Philippines, and Brexit in the UK.

Seven out of 10 people live in a country that has seen a rise in inequality in the last 30 years. Between 1988 and 2011 the incomes of the poorest 10 percent increased by just $65 per person, while the incomes of the richest 1 percent grew by $11,800 per person – 182 times as much.

https://www.oxfam.org/en/pressroom/pressreleases/2017-01-16/just-8-men-own-same-wealth-half-world

The world’s 8 richest people are, in order of net worth:

1. Bill Gates: America founder of Microsoft (net worth $75 billion)
2. Amancio Ortega: Spanish founder of Inditex which owns the Zara fashion chain (net worth $67 billion)
3. Warren Buffett: American CEO and largest shareholder in Berkshire Hathaway (net worth $60.8 billion)
4. Carlos Slim Helu: Mexican owner of Grupo Carso (net worth: $50 billion)
5. Jeff Bezos: American founder, chairman and chief executive of Amazon (net worth: $45.2 billion)
6. Mark Zuckerberg: American chairman, chief executive officer, and co-founder of Facebook (net worth $44.6 billion)
7. Larry Ellison: American co-founder and CEO of Oracle (net worth $43.6 billion)
8. Michael Bloomberg: American founder, owner and CEO of Bloomberg LP (net worth: $40 billion)

 

[stinkynuts]

According to Oxfam, 8 men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

Winnie Byanyima, Executive Director of Oxfam International, said:

“It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 a day. Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.

Oxfam’s report shows how our broken economies are funnelling wealth to a rich elite at the expense of the poorest in society, the majority of whom are women. The richest are accumulating wealth at such an astonishing rate that the world could see its first trillionaire in just 25 years. To put this figure in perspective – you would need to spend $1 million every day for 2738 years to spend $1 trillion.

Public anger with inequality is already creating political shockwaves across the globe. Inequality has been cited as a significant factor in the election of Donald Trump in the US, the election of President Duterte in the Philippines, and Brexit in the UK.

Seven out of 10 people live in a country that has seen a rise in inequality in the last 30 years. Between 1988 and 2011 the incomes of the poorest 10 percent increased by just $65 per person, while the incomes of the richest 1 percent grew by $11,800 per person – 182 times as much.

https://www.oxfam.org/en/pressroom/pressreleases/2017-01-16/just-8-men-own-same-wealth-half-world

The world’s 8 richest people are, in order of net worth:

1. Bill Gates: America founder of Microsoft (net worth $75 billion)
2. Amancio Ortega: Spanish founder of Inditex which owns the Zara fashion chain (net worth $67 billion)
3. Warren Buffett: American CEO and largest shareholder in Berkshire Hathaway (net worth $60.8 billion)
4. Carlos Slim Helu: Mexican owner of Grupo Carso (net worth: $50 billion)
5. Jeff Bezos: American founder, chairman and chief executive of Amazon (net worth: $45.2 billion)
6. Mark Zuckerberg: American chairman, chief executive officer, and co-founder of Facebook (net worth $44.6 billion)
7. Larry Ellison: American co-founder and CEO of Oracle (net worth $43.6 billion)
8. Michael Bloomberg: American founder, owner and CEO of Bloomberg LP (net worth: $40 billion)

$1 billion = 1,000 million dollars. Holy shit.

My life would be so different with just $1 million, let alone tens of thousands of millions.

That's the price of capitalism.

 

[Occasionally]

Comparisons like this are skewed. Anyone with a half decent job for 20 years, some money in the bank and a home might have total asset worth of let's say $1 million in Canada.

I bet having $1 million net worth is more than the poorest 1 billion people in the world. There are shitloads of people who have nothing..... poor people in poor countries, most kids under 10 years old are broke and live off their parents, and any anyone in over their head in debt leading to a negative net worth. There's millions of dead broke prisoners locked up which even a high school student with $200 in the bank from working at McDonalds is technically richer then. Add up all these people and even someone with a net worth of $50,000 is probably richer than the poorest 100 million people in the world.

When I was a kid, my dad gave me $100 to start my first bank account. Right off the bat, I'm richer than anyone in the world with $0 to their name. And I was 10 years old.

There's always articles saying some rich guys are worth a lot, but one thing they have in common is that most of them are business guys who made their money creating a business or managing large corporations which reward them with stock.

What articles never track is most businesses failures where the person (usually a guy) lost his shirt, claimed bankruptcy and probably miserable. People only see the success stories because the person/business is still in the limelight. Nobody looks at the loss of money and failed companies leading to bankruptcy docket # 28375, Steve Johnson vs. creditors.

 

[Ceiling Cat]

How much better can you eat? How many cars can you drive?

 

[Aardvark154]

The world’s 8 richest people are, in order of net worth:

1. Bill Gates: America founder of Microsoft (net worth $75 billion)
2. Amancio Ortega: Spanish founder of Inditex which owns the Zara fashion chain (net worth $67 billion)
3. Warren Buffett: American CEO and largest shareholder in Berkshire Hathaway (net worth $60.8 billion)
4. Carlos Slim Helu: Mexican owner of Grupo Carso (net worth: $50 billion)
5. Jeff Bezos: American founder, chairman and chief executive of Amazon (net worth: $45.2 billion)
6. Mark Zuckerberg: American chairman, chief executive officer, and co-founder of Facebook (net worth $44.6 billion)
7. Larry Ellison: American co-founder and CEO of Oracle (net worth $43.6 billion)
8. Michael Bloomberg: American founder, owner and CEO of Bloomberg LP (net worth: $40 billion)

Name one of the six Americans who doesn't espouse "progressive" politics.

 

[koreanenvy]

I wish I am one of those 8 guys ... good for them. I hate righteous socialists who believe being rich is a bad thing. Plus, a lot of those people on the list are spending their time and giving a lot of their money to help others. Even if they don't give a penny away I wouldn't judge ... it's their money.

 

[Ceiling Cat]

I wish I am one of those 8 guys ...

I do not envy them. I prefer to be me and not be afraid that I or members of my family may be cat napped.

 

[IM469]

Most are socially conservative - quiet family men. By contrast if I had the interest generated by their wealth in one day, my dick would have fallen off from over use a long time ago.

 

[Occasionally]

I wish I am one of those 8 guys ... good for them. I hate righteous socialists who believe being rich is a bad thing. Plus, a lot of those people on the list are spending their time and giving a lot of their money to help others. Even if they don't give a penny away I wouldn't judge ... it's their money.

Yeah. And every one of them has lead successful companies..... which is built up from people buying their products. There's alternatives out there, but people still want to support their companies with their hard earned dollar. It's not like these guys rob banks and pocket billions. If people don't like rich people, then stop supporting their companies and support smaller scale businesses.

For example, nobody is forcing anyone to join Facebook. But if everyone from kids to 99 year old grampa wants to make a profile and click banner ads on the side, that's their problem. Don't use Facebook and Zuckerberg's empire will collapse. There's a gazzilion other web sites on the net anyway.

Stop eating at McDonalds making the CEO rich. Instead, stop by the mom and pop diner making home made burgers and home cut fries. But people prefer buying soggy Big Macs.

 

[wangbang]

if I had the interest generated by their wealth in one day, my dick would have fallen off from over use a long time ago.

Only after you broke Ivanka's pussy.

 

[Ceiling Cat]

Only after you broke Ivanka's pussy.

Ivanka has a spring steel trap for a pussy.

 

[HobbyHorse]

I wish I am one of those 8 guys ... good for them. I hate righteous socialists who believe being rich is a bad thing. y.

+1
The people on this list largely created their wealth where no wealth previously existed. They did not make the poor poor in making themselves rich. Thay've actually lifted up others. They've made products which you and I have voluntarily lined up to buy to add something with value to our own lives.
The eight richer (but mostly unknown) guys who are not on this list..., the drug cartel heads and the Putins and Ghaddafis... Those are the only rich who are worthy of contempt.

 

[onthebottom]

What does it say that 6/8 are Americans....

 

[Promo]

What does it say that 6/8 are Americans....

Actually ....... very little.

According to several American studies the average Canadian household is richer than the average American household. The average Canadian lives healthier and longer. Canadians are less likely to shoot ourselves or each other. We have less mental illness. No city in Canada is remotely comparable to US cities like Cleveland. We're loved throughout the world unlike our American neighbours. Geesh, by almost every measure Canadians are better-off than Americans. And there's nothing you can do about it except constantly whine here on Terb.

 

[onthebottom]

Actually ....... very little.

According to several American studies the average Canadian household is richer than the average American household. The average Canadian lives healthier and longer. Canadians are less likely to shoot ourselves or each other. We have less mental illness. No city in Canada is remotely comparable to US cities like Cleveland. We're loved throughout the world unlike our American neighbours. Geesh, by almost every measure Canadians are better-off than Americans. And there's nothing you can do about it except constantly whine here on Terb.

Then why do twice as many Canadians move to the US as the other direction?

 

[Butler1000]

Then why do twice as many Canadians move to the US as the other direction?

Um. One of them was Fuji. So in many cases we aren't exactly sending the best.

 

[rhuarc29]

Capitalism is an imperfect system. Meant to reward hard work and intelligence, but often rewarding connections and existing wealth. The latter of which is important for understanding the growing inequality gap.

I am completely fine with a growing inequality gap, given the right circumstances. Bums don't need to be lifted up by dragging down our most productive people. But, when it comes to hard-working people who hold down three jobs and still can barely get by, you look at a person who just sits with his money breeding money and say "hmmm".

 

[lomotil]

Why there are way more refugees entering Canada from the US than in the other direction ? Those refugees could have chosen to stay in the US. That means Canada is a more desirable country to live in than the US.

Hundreds of refugees entering Manitoba near Emerson border

http://www.cbc.ca/news/canada/manitoba/refugees-emerson-border-manitoba-1.3923747

Canada has more generous social assistance programs for refugees than America . Canada is a big fat social safety net cow that likes to be milked.

 

[nottyboi]

Comparisons like this are skewed. Anyone with a half decent job for 20 years, some money in the bank and a home might have total asset worth of let's say $1 million in Canada.

I bet having $1 million net worth is more than the poorest 1 billion people in the world. There are shitloads of people who have nothing..... poor people in poor countries, most kids under 10 years old are broke and live off their parents, and any anyone in over their head in debt leading to a negative net worth. There's millions of dead broke prisoners locked up which even a high school student with $200 in the bank from working at McDonalds is technically richer then. Add up all these people and even someone with a net worth of $50,000 is probably richer than the poorest 100 million people in the world.

When I was a kid, my dad gave me $100 to start my first bank account. Right off the bat, I'm richer than anyone in the world with $0 to their name. And I was 10 years old.

There's always articles saying some rich guys are worth a lot, but one thing they have in common is that most of them are business guys who made their money creating a business or managing large corporations which reward them with stock.

What articles never track is most businesses failures where the person (usually a guy) lost his shirt, claimed bankruptcy and probably miserable. People only see the success stories because the person/business is still in the limelight. Nobody looks at the loss of money and failed companies leading to bankruptcy docket # 28375, Steve Johnson vs. creditors.

Having an individual net worth of US$1m puts you in the top 0.5% of richest people on the planet. So 1M is more then 6.85B people on the planet have (assuming a total pop of 7.2B)

 

[nottyboi]

Then why do twice as many Canadians move to the US as the other direction?

I would say climate is a bigger factor then taxation, that said, most of the companies I have worked for are American.