These 8 Men are richer than Half the World combined

 

By Mark Wachtler

January 17, 2017. (ONN) The anti-poverty organization Oxfam International issued a report yesterday showing that the eight richest people in the world possess the same amount of wealth as half the world’s population combined. That’s 3.6 billion nameless, faceless people. The 8 richest however, are the icons of the global oligarchy. Read on to see who they are.



The eight richest humans on Earth are all men. Six are Americans. One is from Mexico and one is from Spain. Together, they possess $427 billion in money and assets. The Oxfam report stated, “The millions of people who have been left behind by our broken economies need solutions, not scapegoats. That is why Oxfam is setting out a new common sense approach to managing our economies so that they work for the majority and not just the fortunate few.”

The authors conclude that globalism is the culprit for the ever-growing gap in wealth between the poverty-stricken masses and the wealthiest few. Most of the eight richest men made their fortunes by owning multi-national corporations, or hedge funds that owned multi-national corporations, that use low wage labor in poor countries to produce products sold at astronomical profit margins to the citizens of the wealthiest countries.

The Oxfam report also suggests the world is rapidly losing its faith in globalism, as evidenced by the popular vote by Great Britain to leave the European Union and the surprise election of the populist Donald Trump over the globalist Hillary Clinton. The rise of nationalism in the US and throughout Europe, as well as the Arab Spring, could also be presented as evidence of the masses’ frustration.

The authors also provide statistics that suggest the reasons for the global frustration, such as the fact that between 1988 and 2011, the world’s richest 1% saw their incomes rise 182-times the rate of the poorest 10%. In those 25 years, the poorest 10% of the world saw their annual income increase by a meager $65.

The report suggests, “Governments are not helpless in the face of technological change and market forces.  If politicians stop obsessing with GDP, and focus on delivering for all their citizens and not just a wealthy few, a better future is possible for everyone.”



The 8 richest people on Earth, their country and net worth (from Oxfam.org):

  1. Bill Gates: USA. Founder of Microsoft ($75 billion)

  2. Amancio Ortega: Spain. Founder of Inditex which owns the Zara fashion chain ($67 billion)

  3. Warren Buffett: USA. CEO and largest shareholder in Berkshire Hathaway ($60.8 billion)

  4. Carlos Slim Helu: Mexico. Owner of Grupo Carso ($50 billion)

  5. Jeff Bezos: USA. Founder, chairman and chief executive of Amazon ($45.2 billion)

  6. Mark Zuckerberg: USA. Chairman, chief executive officer, and co-founder of Facebook ($44.6 billion)

  7. Larry Ellison: USA. Co-founder and CEO of Oracle  ($43.6 billion)

  8. Michael Bloomberg: USA. Founder, owner and CEO of Bloomberg LP ($40 billion)

Read the full report at Oxfam.org.

 

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