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Sunday , 20 August 2017
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8 richest men of the World own as much as 50% of the poorest of the World

richest-people-759The eight richest Dollar billionaires of the World have money equal to what 50% of the poorest men of the World have. The list of richest men was led by Microsoft Chairman Bill Gates also had fashion retailer Inditex owner Amancio Ortega, Warren Buffet – the founder of billionaire investment company Berkshire Hathaway, Mexican telecom tycoon Carlos Slim Helu, Jeff Bezos – the founder of Amazon, Mark Zuckerberg – the founder of Facebook, Larry Ellison – CEO of Oracle and Michael Bloomberg, the owner of the Bloomberg media empire.

These gentlemen together own over $426 billion in assets and this is alarming. It is alarming because last year over 62 billionaires had contributed to the wealth owned by these 8 people. Their wealth has not grown at an alarmingly rapid pace, but it has been due to improper reporting that was done the last year. The report has been redone to include some more poor people that were not taken into account the previous year.

The report has been released just a week ahead of the World Economic Forum (WEF) which is held every year in Switzerland. Many people say that this will only strengthen the resolve of people to move away from privatization and globalization.

More and more of liberalization has only led to an increase in the wealth that is concentrated in the hands of a few and this is being cited as a reason for people to lose faith in politicians who are unable to stop this worrying trend. The World has also seen a worrying rise in racism across the World.

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