In 2017, the wealth gap is wider then ever before. Just eight billionaires have a net worth of more than half the world’s population combined. To illustrate the rate at which this growth continues to occur, last year there were 62 individuals who had collectively accumulated as much wealth as half the planet. The gap continues to grow, and Americans continue to fork over their money to companies like Microsoft and Amazon. In fact, six of the eight wealthiest men are Americans.
An analysis from Oxfam warns that the gap between the rich and the poor is greater than ever. In their report, An Economy for the 99%, Oxfam describes the gap as “obscene.” The analysis reveals that eight very wealthy men have a combined net worth of $426 billion. There are 3.6 billion people comprising the poorest half of the world’s population, and their combined net worth is only $409 billion. Continue reading »
– World’s Richest Man Attacks Wall Street Bailouts (Wall Street Journal, Oct. 25, 2011):
The Wall Street bailouts have been a chief target of criticism by the Occupy Wall Streeters.
Now another crusader has weighed in on the issue, saying Washington has given too much money to bankers and not enough to the mass workforce.
The crusader? Carlos Slim, the world’s richest man.
“The monetary and the fiscal policies, which are very aggressive, should go more to the real economy,” Slim told reporters at a conference in Geneva. “It’s going in some way more to the financial economy.”