Do you know how many people in world hold more than half of wealth on planet Earth?
All men were created equal and then came money and the whole equality thing went into drain. Every war, every coup and every fight in history has either being for race, religion or money, but the common factor between them is that only a handful of people have controlled majority of money in the world. But you will be surprised to know how many people hold more than 50% of money in today’s world.
1 Number of people holding half of world’s wealth
Wealth is something everyone wants to amass as much as they can in their lifetime. It allows people to live a life of comfort, luxury and free of any hardships. There is also the fact that all men and women were created equal and life should treat them as such. But the reality is very different from what we think and that was proven when Oxfam and World Economic Forum has revealed that only a handful of people have more than 60% of world’s money as compared with the rest of some 3.6 billion people on this planet. More so revealing was a stat that only 8 people on this Earth hold almost 50% of wealth against 3.6 billion people. The eight people to hold almost 50% of wealth are: Microsoft co-founder Bill Gates, Berkshire Hathaway chairman and CEO Warren Buffett, Amazon founder and CEO Jeff Bezos, Oracle co-founder Larry Ellison, former New York Mayor Michael Bloomberg and Facebook founder and CEO Mark Zuckerberg. Rest of the people on the list are Carlos Slim, the Mexican tycoon, and Amancio Ortega, the Spanish founder of a retail conglomerate that includes clothing chain Zara. Together their net wealth comes to $426 billion. That’s a worth of $426 billion vs $409 billion that rest of 3.6 billion people put together in the world.
2 Consequences of this scenario of wealth in the world
Oxfam and World Economic Forum have been tracking this widening chasm of wealth between the richest 1% and rest of the people in this world. They say that this gap is going to put a lot of strain on the fabric that is holding the democracies all over the world and with events like Brexit and Donald Trump becoming the President of US on backing of his money are only some examples showing what wealth can do. There are 1,810 billionaires on the Oxfam list that hold $6.5 trillion which is 70% of the wealth held by humanity. According to them, 80% of bottom half of world’s population in adults live in India and Africa. Most of these 8 billionaires have pledged much of their wealth to charity, it is still a pretty big gap that has caused a severe unbalance in the world because people who have money, have all the power in their hands to do anything, topple governments, feed and prosper terrorist or even fund a successful campaign for presidency.