Eight billionaires – all men, six of them American – together own as much wealth as the world’s poorest 3.7 billion people, a new report from Oxfam has revealed.
The eight men who own as much as half the world are: Microsoft founder Bill Gates; Zara founder Amancio Ortega; US investor Warren Buffett Carlos Slim Helo, owner of Mexican conglomerate Grupo Carso; Amazon founder Jeff Bezos; Facebook founder Mark Zuckerberg; Oracle co-founder Larry Ellison; and businessman and former New York City mayor Michael Bloomberg. Collectively, the eight men are worth $426 billion (an average of $51 billion each), while the 3.7 billion poorest people in the world own $409 billion (an average of $111 each).
The finding sheds stark light on the scale of inequality across the world, with the figures also revealing that the wealthiest 1% of the population together own more than the remaining 99% combined. Several of the billionaires have pledged to give the majority of their wealth to charity, either before or after they die.