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Inequality Gets Obscene: 8 Men Own Half the World’s Wealth

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January 17, 2017 | By Vandita at

How does wealth and income inequality really look? In 2015, the richest 1% owned 48% of all global wealth. In 2016, just 62 individuals owned as much wealth as half of the world’s population. In 2017, the wealth gap is wider than ever: 8 multi-billionaires on the planet which includes 6 Americans own more than the combined wealth of half the world’s population.
In a report “An Economy for the 99%,” which calls for a crackdown on tax dodging and a shift away from super-charged shareholder capitalism that pays out disproportionately to the rich, Oxfam warned the gap between the rich and the poor is far greater than had been feared.
An analysis by Oxfam, which described the gap as “obscene,” found the 8 super rich men have a combined fortune of $426 billion; by contrast, the 3.6 billion, who make up the poorest half of humanity, have a combined wealth of $409 billion.
The report found that the incomes of the poorest 10% of people increased by less than $3 a year between 1988 and 2011, while the incomes of the richest 1% increased 182 times as much.
According to the Forbes Billionaires list, here are the world’s 8 richest people, which Oxfam says own half the world’s wealth:

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Kyle James Lee

Majority Owner of The AEGIS Alliance. I went to college for Media Arts, Game Development. Talents include Writer/Article Writer, Graphic Design, Photoshop, Web Design and Development, Video Production, eCommerce.
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