Eight men own the same as world’s poorest 50%


World Economic Forum, cartoon

This cartoon is about the gathering of the world’s rich and powerful at the World Economic Forum in Davos, Switzerland.

From Oxfam today, on the eve of the World Economic Forum meeting in Davos:

An economy for the 99%

It’s time to build a human economy that benefits everyone, not just the privileged few

New estimates show that just eight men own the same wealth as the poorest half of the world. As growth benefits the richest, the rest of society – especially the poorest – suffers. The very design of our economies and the principles of our economics have taken us to this extreme, unsustainable and unjust point.

Our economy must stop excessively rewarding those at the top and start working for all people. Accountable and visionary governments, businesses that work in the interests of workers and producers, a valued environment, women’s rights and a strong system of fair taxation are central to this more human economy.

The sources and methodology behind the headline facts in this paper are explained in the separate methodology note.

The world’s eight richest men are:

Bill Gates (USA), Microsoft co-founder, 70,35 billion euros
Amancio Ortega (Spain), Inditex owner, 62,85 billion euros
Warren Buffett (USA), main owner of Berkshire Hathaway, 57,03 billion euros
Carlos Slim Helu (Mexico), Grupo Carso owner, 46,90 billion euros
Jeff Bezos (USA), Amazon CEO, 42,40 billion euros
Mark Zuckerberg (USA), Facebook co-founder, 41,83 billion euros
Larry Ellison (USA), Oracle co-founder and CEO, 40,90 billion euros
Michael Bloomberg (USA), Bloomberg LP CEO and owner, 37,52 billion euros

Richest and poor

Oxfam: Eight men are as rich as half the world, ‘Obscene’ for so much wealth to be in hands of so few, says charity director Winnie Byanyima: here.

RAMPANT inequality has reached the point where a group of men owning the same wealth as half the planet’s population could squeeze onto a single golf buggy. Eight billionaires now have a combined wealth equivalent to 3.6 billion of the world’s poorest people, according to yesterday’s alarming revelation from Oxfam. The anti-poverty charity is calling for an overhaul of a “warped” economy that allows a small group of people to hoard more wealth than they can spend while billions go hungry: here.

Meet the eight men who have more money than half the world. [HuffPost]

USA: THE D.C. NEIGHBORHOOD THE OBAMAS, IVANKA TRUMP AND JEFF BEZOS PLAN TO CALL HOME We have a feeling neighborhood potlucks may be slightly awkward affairs. [WaPo]

Mark Zuckerberg is suing to force native Hawaiians off their ancestral land to build an island resort. Nathan Wellman | January 19, 2017: here.

A report published in December by University of California at Berkeley economists Thomas Piketty, Emmanuel Saez and Gabriel Zucman reveals unprecedented levels of social inequality in the United States. The report documents an immense redistribution of wealth over a period of several decades from the working class to the rich. The bottom 50 percent’s pre-tax share of national income has fallen from 20 percent in 1970 to 12 percent in 2014, while the income share of the top 1 percent has almost doubled to 20 percent. The wealthiest 1 percent now owns over 37 percent of household wealth, while the bottom 50 percent—roughly 160 million people—owns almost nothing, a mere 0.1 percent: here.

136 thoughts on “Eight men own the same as world’s poorest 50%

  1. Pingback: More homeless children in Boris Johnson’s Britain | Dear Kitty. Some blog

  2. Pingback: Stop arms fair in London, England | Dear Kitty. Some blog

  3. Pingback: European Union accused of ‘fascist rhetoric’ | Dear Kitty. Some blog

  4. Pingback: Millions on strike against global warming | Dear Kitty. Some blog

  5. Pingback: Jeffrey Epstein pedophilia scandal, Big Business scandal | Dear Kitty. Some blog

  6. Pingback: Dutch Chilean refugees on Piñera’s neo-Pinochetist bloodshed | Dear Kitty. Some blog

  7. Pingback: Millions of Chileans demonstrate for equality | Dear Kitty. Some blog

  8. Pingback: Argentina under right-wing President Macri | Dear Kitty. Some blog

  9. Pingback: Make people more stupid, far-right ideologist says | Dear Kitty. Some blog

  10. Pingback: New Ken Loach film on capitalism, interview | Dear Kitty. Some blog

  11. Pingback: Mass demonstrations in Chile, background | Dear Kitty. Some blog

  12. Pingback: Dutch billionaires even richer | Dear Kitty. Some blog

  13. Pingback: British Conservative Rees-Mogg attacks Grenfell fire victims | Dear Kitty. Some blog

  14. Pingback: Australian pro-climate striking students speak | Dear Kitty. Some blog

  15. Pingback: Brazilian Bolsonaro’s new fascist party | Dear Kitty. Some blog

  16. Pingback: French workers keep fighting, interviews | Dear Kitty. Some blog

  17. Pingback: JPMorgan Chase, biggest profits ever of any bank | Dear Kitty. Some blog

  18. Pingback: Inequality growing, new report | Dear Kitty. Some blog

  19. Pingback: Davos, Switzerland 2020 billionaires’ summit | Dear Kitty. Some blog

  20. Pingback: Elections in unequal Ireland | Dear Kitty. Some blog

  21. Pingback: Big German demonstrations against murderous neonazis | Dear Kitty. Some blog

  22. Pingback: Big pro-climate strike in Bristol, England | Dear Kitty. Some blog

  23. Pingback: Today’s coronavirus update | Dear Kitty. Some blog

  24. Pingback: Workers strike against being exposed to coronavirus | Dear Kitty. Some blog

  25. Pingback: Coronavirus, kill seniors for capitalism, Bolsonaro says | Dear Kitty. Some blog

  26. Pingback: Coronavirus update of today | Dear Kitty. Some blog

  27. Pingback: ‘No workers’ coronavirus deaths for Wall Street’ | Dear Kitty. Some blog

  28. Pingback: May Day 2020 during COVID-19 | Dear Kitty. Some blog

  29. Pingback: Coronavirus update, Boris Johnson’s Britain | Dear Kitty. Some blog

  30. Pingback: COVID-19 kills, Trump re-opens United States economy | Dear Kitty. Some blog

  31. Pingback: Anti-George Floyd police murder protests, worldwide | Dear Kitty. Some blog

  32. Pingback: Black Lives Matter, USA and Britain | Dear Kitty. Some blog

  33. Pingback: COVID-19 disaster, update | Dear Kitty. Some blog

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.