Just 8 richest men own the same wealth as 50% of the world’s poor
The incredible Oxfam International published a report in January and the media was abuzz with the new ﬁnding
. In 2016, the wealth of only the 8 richest men was equivalent to that of about 3.8 billion poorest people. That is half the world’s population.
Microsoft Founder Bill Gates, Investor Warren Buffet, Facebook Founder Mark Zuckerberg, who are interestingly known for their philanthropic work, feature in the top 8 richest this year.
Anne Frank said, ‘no one has ever become poor by giving.’ And many have found truth in it. This report makes us wonder if there also a truth in ‘one can become the richest by giving’?
Our ﬁrst reaction to this, at Kaleidoscope, – ‘that is incredible’, especially considering that the number that was 62 in 2015 and 388 in 2010 has come down to just 8. Either the rich are getting richer or the poor are getting poorer or both. Many call this as an extreme inequality, a crisis that needs to be tackled urgently. Some say this is an example of what human enterprise can aspire for and achieve. What do you think?