Year Since 2020, there has been a tremendous increase in the wealth of the world’s 5 richest people. During this period his net worth has doubled. In a report by Oxfam International, inequality in the world has been explained in figures. According to the report, about 5 billion people around the world became poorer during the same period. According to Oxfam report, the top-five richest people in the world are Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison and Mark Zuckerberg. These people increased their income at the rate of $14 million per hour in 2020. The total wealth of these people is 869 billion dollars.
These billionaires are the owners of immense wealth
Analyzing the data, the report said that even if these five people spend 1 million dollars i.e. Rs 8.3 crore every day, it would take an average of 476 years for their wealth to be wiped off. If Elon Musk spends Rs 8.3 crore every day, it will take 673 years for his wealth to be exhausted. At the same time, it will take 459 years for the wealth of Amazon founder Jeff Bezos to disappear.
The first trillion dollar person will be found in a decade
Oxfam’s report claims that the world will get its first trillion dollar (1000 billion dollar net worth) person in 10 years. It was also said that at the current rate it will take 230 years to eliminate poverty.
Economic inequality is increasing
“The rise of global corporate and monopoly power is increasing economic inequality,” the Oxfam report said. Of the ten largest corporates in the world, seven have either billionaire CEOs or major shareholders. Corporations are increasing inequality by charging workers more services for less money, avoiding taxes, privatizing the state, and fueling climate collapse. They are working to deliver more and more wealth to their wealthy owners.” It further said, “To end extreme inequality, governments must redistribute the power of billionaires and corporates back to the common people.
Latest Business News