Eight men own the same wealth as the 3.6 billion people

18/01/2017
Just 8 men own same wealth as half of the world


Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam.
Those lucky eight people are, in order: founder of Microsoft Bill Gates, business magnate and founder of Inditex Amancio Ortega, investor Warren Buffett, telecoms magnate Carlos Slim, founder of Amazon Jeff Bezos, Chairman, CEO and co-founder of Facebook Mark Zuckerberg, CEO of Oracle Larry Ellison and Michael Bloomberg, the founder and CEO of Bloomberg LP.
“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.  Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.  Winnie Byanyima, Executive Director of Oxfam International, said.
This report was to mark the annual World Economic Forum in Davos, Switzerland where the political and financial leaders all over the world and especially the richest gather to discuss the economic issues of the world.
Oxfam’s report shows how our broken economies are funnelling wealth to a rich elite at the expense of the poorest in society, the majority of whom are women. The richest are accumulating wealth at such an astonishing rate that the world could see its first trillionaire in just 25 years.  To put this figure in perspective – you would need to spend $1 million every day for 2738 years to spend $1 trillion.   
The report also reveals how big business and the super-rich are fuelling the inequality crisis.  It shows how, in order to maximize returns to their wealthy shareholders, big corporations are dodging taxes, driving down wages for their workers and the prices paid to producers, and investing less in their business.
According to the report, seven out of 10 people live in a country that has seen a rise in inequality in the last 30 years.  Between 1988 and 2011 the incomes of the poorest 10 percent increased by just $65 per person, while the incomes of the richest 1 percent grew by $11,800 per person – 182 times as much. 
Women, who are often employed in low pay sectors, face high levels of discrimination in the work place, and who take on a disproportionate amount of unpaid care work often find themselves at the bottom of the pile. On current trends it will take 170 years for women to be paid the same as men.
It also demonstrates how big business and the super-rich use their money and connections to ensure government policy works for them. For example, billionaires in Brazil have sought to influence elections and successfully lobbied for a reduction in tax bills while oil corporations in Nigeria have managed to secure generous tax breaks.
Oxfam interviewed women working in a garment factory in Vietnam who work 12 hours a day, 6 days a week and still struggle to get by on the $1 an hour they earn producing clothes for some of the world’s biggest fashion brands. The CEOs of these companies are some of the highest paid people in the world.   Corporate tax dodging costs poor countries at least $100 billion every year. This is enough money to provide an education for the 124 million children who aren’t in school and fund healthcare interventions that could prevent the deaths of at least six million children every year.
Inequality is definitely getting worse in a lot of countries and you’re seeing the super rich, in particular, move away from the rest of society and that’s really harmful./.
Chia sẻ bài viết ^^
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