Later On

A blog written for those whose interests more or less match mine.

Sign that things are out of whack: World’s 8 Richest Have as Much Wealth as Bottom Half of Global Population

leave a comment »

Gerry Mullany reports in the NY Times:

17wealth-1-master768

How concentrated has wealth become in the globalized modern world? Here’s one answer: Just eight of the richest people on earth own as much combined wealth as half the human race.

That’s a notable change from last year, when it was reckoned to take 62 of the superrich to match the assets of the 3.6 billion people in the poorer half of mankind.

The charity Oxfam does the math each year and publishes its results just in time for the World Economic Forum in Davos, Switzerland, where many of the spectacularly wealthy are often among the attendees, along with diplomats, political figures, and business and cultural leaders. The Oxfam report on inequality is on the agenda for discussion at the forum.

Oxfam bases its figures in part on Forbes’s annual list of billionaires and the magazine’s estimates of their wealth. This year, Oxfam said, new data gathered by Credit Suisse about the global poor led it to lower its estimates of their assets, and revise its findings about how few rich men — the eight are all men — were needed to equal the wealth of 3.6 billion people.

Here are the eight, with their net worth as estimated by Forbes, whose annual survey depends on a range of sources: . . .

Continue reading.

Written by LeisureGuy

16 January 2017 at 6:31 pm

Posted in Business, Daily life

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s