8 Men Have More Wealth Than Half the Earth’s Population Combined

The gap between the super-rich and the poorest half of the global population is starker than previously thought, with just eight men, from Bill Gates to Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an analysis by Oxfam released Monday.

Presenting its findings on the dawn of the annual gathering of the global political and business elites in the Swiss ski resort of Davos, anti-poverty organization Oxfam says the gap between the very rich and poor is far greater than just a year ago. It’s urging leaders to do more than pay lip-service to the problem.

If not, it warns, public anger against this kind of inequality will continue to grow and lead to more seismic political changes akin to last year’s election of Donald Trump as U.S. president and Britain’s vote to leave the European Union.

“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,” said Winnie Byanyima, executive director of Oxfam International, who will be attending the meeting in Davos. “Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.”

This kind of inequality will lead to revolt before long that will make the French Revolution looking like a child’s game in comparison.

About Jim

I am a Pastor, and Lecturer in Church History and Biblical Studies at Ming Hua Theological College.
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2 Responses to 8 Men Have More Wealth Than Half the Earth’s Population Combined

  1. billc0119 says:

    Assume that the wealth of those eight people is off the table, or non-existent. Then, what does the problem look like?

    Consider, also, the scenario of those people”s being beneficent, and their establishment of foundations and charities to help the poorest people.

    How much would you want them to keep for their families before giving the rest away?

    How much, then, would each person in the lower half of the population receive?

    Then, what?

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    • Jim says:

      the amount they give in proportion to their holdings is actually quite tiny. poorer people are more generous and study after study have demonstrated this.

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