Oxfam has published a new report that shows the just 8 people in the world have the same amount of wealth as almost 3.6 billion of the poorest people in the world. This report has been published in the wake of the annual meeting of business and political leaders in Davos.
It has also been shown that previous estimations of the gap between the rich and poor are far less than the actual situation. New data gathered from India and China has proven that the poorest population is far less wealthier.
These 8 people include Bill Gates, Mark Zuckerberg, Michael Bloomberg, Carlos Slim Helu, Warren Buffett, Larry Ellison, Jeff Bezos, and Amancio Ortega.
The report titled ‘An economy for the 99 percent’, proves that the rich have gotten even more richer and increasing the inequality by lowering wages, influencing politics and evading taxes. Oxfam had previously calculated that 62 of the richest men in the world have the same wealth as the half of the world.
However, they have corrected it in the new report with the help of better and latest data and have reduced to number of rich people to just 8. These 8 people are listed below in order of their net worth:
1. Bill Gates: USA, Founder of Microsoft ($75 billion)
2. Amancio Ortega: Spain, Founder of Inditex and owns Zara fashion chain ($76 billion)
3. Warren Buffett: USA, Largest shareholder and CEO of Berkshire Hathaway ($60.8 billion)
4. Carlos Slim Helu: Mexican, Owner of Carso ($50 billion)
5. Jeff Bezos: USA, Founder, chief executive and chairman of Amazon ($45.2 billion)
6. Mark Zuckerberg: USA, Co-founder, chief executive and chairman of Facebook ($44.6 billion)
7. Larry Ellison: USA, Co-founder and CEO of Oracle ($43.6 billion)
8. Michael Bloomberg: USA, Founder, CEO and owner of Bloomberg LP ($40 billion)
The executive director of Oxfam International Winnie Byanyima 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.
“Across the world, people are being left behind. Their wages are stagnating yet corporate bosses take home million dollar bonuses; their health and education services are cut while corporations and the super-rich dodge their taxes; their voices are ignored as governments sing to the tune of big business and a wealthy elite.”
Oxfam report shows that if the super rich continued to get wealthier at the current rate the world could see its first trillionaire in just 25 years.