Tremendous Inequality: 8 Men are as Rich as Half the World's Population

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by Amna El Tawil
 
It is a well-known fact that the gap between those super-rich individuals and the poorest people is incredibly deep. According to the analysis by Oxfam eight men, from Bill Gates to Michael Bloomberg, owning as much wealth as 3.6 billion people.
 
Oxfam is an international confederation of 18 non-governmental organizations working with partners in over 90 countries to end the injustices that cause poverty.
 
The gap between the richest and the poorest is even greater than it was a year ago. Winnie Byanyima, executive director of Oxfam International said: “It is obscene for so much wealth to be held in the hands of so few when one 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.”
 
Oxfam used Forbes’ billionaire’s list that was last published in March 2016 to make its headline claim. Based on this list, the founder of Microsoft, Bill Gates, is the richest man on the planet with a net worth of staggering $75 billion.
 
Other billionaires include:
 

  • Amancio Ortega, the Spanish founder of fashion house Inditex
  • Warren Buffet, financier
  • Carlos Slim, Helu, Mexican business magnate
  • Jeff Bezos, Amazon boss
  • Mark Zuckerberg, Facebook founder
  • Larry Ellison Oracle founder
  • Michael Bloomberg, former mayor of New York

 
After the analysis showed the incredible gap between the rich and the poor, Oxfam outlined some measures that can help reduce the inequality.
 
These measures include higher taxes on wealth and income, greater cooperation among governments on ensuring workers are paid decently and the rich do not dodge their taxes, billionaires and business leaders should pay their fair share of taxes and a living wage to employees.
 
Oxfam’s policy adviser, Max Lawson said billionaires should do the right thing and follow Bill Gate’s advice to pay their taxes instead of avoiding them.