How Much Wealth Does Billionaires Have?
By AlpLocal News
21 January 2020
DAVOS, SWITZERLAND – The 50th Annual Meeting of the World Economic Forum held this week in Davos has as its theme … Stakeholders for a Cohesive and Sustainable World. Today, many of the stakeholders spoke and advocated for their approach in handling their national economy and the global economy.
The question of wealth came up in street protest in Davos. More specifically, billionaire wealth. The question, How Much Wealth Does Billionaires Have?
President Donald Trump spoke to the assembled crowd that included over one hundred billionaires. He urged other countries to follow his lead and liberate their citizens from “crushing bureaucracy.”
Trump also advocated focusing on economic growth and rejecting what he called “the perennial prophets of doom and their predictions of apocalypse.”
President Trump said, “They predicted an overpopulation crisis in the ’60s, mass starvation in the ’70s, and an end of oil in the 1990s. These alarmists always demand the same thing: absolute power to dominate, transform and control every aspect of our lives. We will never let radical socialists destroy our economy, wreck our country or eradicate our liberty,” Trump said.
Oxfam India CEO Amitabh Behar, who is in Davos to represent the Oxfam confederation this year said, “The gap between rich and poor can’t be resolved without deliberate inequality-busting polices, and too few governments are committed to these.”
“Don’t be fooled by President Trump’s glowing self-review,†said Amitabh Behar, Oxfam’s representative at the World Economic Forum meeting. â€This was a speech for the billionaires that the president’s agenda has propped up at the expense of millions of ordinary Americans. It is embarrassing to see the president deliver a sales pitch for the American oil and gas industry rather than face up to challenges of the climate emergency.â€
Among those stakeholders are billionaires. How Much Wealth Does Billionaires Have? There are 2,153 billionaires in the world. Most earned their wealth through hard work and a determination to succeed. A strong work ethic and a forward looking approach to what goals they want to reach has played an intricate role in their success.
So, how much wealth does the 2,153 billionaires have? An Oxfam report called, ‘Time to Care’, revealed the world’s billionaires have more wealth than 4.6 billion people or 60% of the world’s population. Moreover, the number of billionaires have doubled in the last 10 years.
The report says that “global inequality is shockingly entrenched”, in the world. It also says that the 22 richest men in the world have more wealth than all the women in Africa.
It revealed this reality: If the richest 1% paid just 0.5 percent extra tax on their wealth over the next 10 years, that would equal the investment needed to create 117 million jobs in sectors such as elderly and childcare, education and health.
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Written by
AlpLocal News Team
