The wealth of the 8 richest people on earth equals that of the poorest 3.6 billion, according to a report by Oxfam presented at the World Economic Forum in Davos. This vast wealth gap is a threat which may “pull our societies apart,” the report warned.
The list of the eight wealthiest individuals in the world, all men, comes from Forbes magazine’s billionaires list, and includes Microsoft founder Bill Gates, Facebook co-founder Mark Zuckerberg, and Amazon founder Jeff Bezos.
Others include Inditex clothing company founder, Amancio Ortega, investor Warren Buffett, Mexican business magnate Carlos Slim, Oracle’s Larry Ellison, and former New York City Mayor Michael Bloomberg.
Oxfam emphasized the potential connection between the growing gap between the richest and the poorest, and the increasing anger at establishment politicians....
Oxfam urged an increase in tax rates for “rich individuals and corporations,” adding that tax evasion is a critical issue....
The report also slams corporate lobbying and the close relationship between business and politics.
“Crony capitalism benefits the rich, the people who own and run these corporations, at the expense of the common good and of poverty reduction. It means that smaller businesses struggle to compete and ordinary people end up paying more for goods and services,”
