Thread: 62 richest people have as much wealth as half the world

The world's 62 richest billionaires have as much wealth as the bottom half of the world's population, according to a new report from Oxfam International.

The wealthiest have seen their net worth soar over the five years ending in 2015. Back in 2010, it took 388 mega-rich people to own as much as half the world.

And the Top 1% own more than everyone else combined -- a milestone reached in 2015, a year earlier than Oxfam had predicted.

Oxfam released its annual report ahead of the World Economic Forum in the Swiss city of Davos, a yearly gathering of political and financial leaders. The study draws from the Forbes annual list of billionaires and Credit Suisse's Global Wealth Datebook.

The 62 richest people have as much wealth as half the world - Jan. 17, 2016

Grotesque extreme...

Hasn't the world always been this way? Every population in history has had gold-clad rulers, Pharaohs, kings and emperors. These are the 21 century version.

Originally Posted by Henrie

Hasn't the world always been this way? Every population in history has had gold-clad rulers, Pharaohs, kings and emperors. These are the 21 century version.

the point is:
The wealthiest have seen their net worth soar over the five years ending in 2015.
Back in 2010, it took 388 mega-rich people to own as much as half the world.

It all seems pointless. These top 62 might have had $10 billion each five years ago and now they have $20 billion each. It makes not an ounce of difference to the lifestyle they can lead.

That's so fucked up bros... really..

So If we were to take the wealth of those mere 68 individuals and allocate that where most needed, we could end world poverty?

Probably not quite so simple.. but you see my point?

There should be a cap to how much money an individual can amass..

(I know that sounds communist minded)... but I mean a huge, big ass cap..

It's hard, because on one side I believe in freedom to make as much money as you bloody can/want... on the other side, think of all the good and lives that could be saved with all that money...

Bring back Robin Hood, I say...

Originally Posted by NZdick1983

There should be a cap to how much money an individual can amass..

I don't believe in that, but I do believe the ultra-rich should be taxed more.
There should be a Wealth and an Inheritance tax, not so much for mere millionaires, rather Megarich.

^ Agree... I would like to be rich (wouldn't we all?) but to have 20 billion vs 1 billion how much difference does it make?

Having a stable of supercars vs 2 or 3? have 1 yacht vs 2 or 3... etc, etc...

I just want to have enough passive income to not "have" to work in my dotage and be able to chill with my lady... lounge about home/beach, smoke weed like breathing air, work on my tan while sipping rum and coke... sabai sabai...

I don't mind people being super rich provided

1. they did not inherit the wealth
2. they donate 95% of their wealth to charity when they die

This is what the QE central bank money printing did...it was a huge give away to the 1%.... disgusting!!

Originally Posted by Looper

I don't mind people being super rich provided

1. they did not inherit the wealth
2. they donate 95% of their wealth to charity when they die

Why not 2% per year while they are alive? That is what the Facebook guru is doing.

I think it is up to the rich person if they want to do that but I think the amount that a rich person can bequeath or gift to another person should be capped at a few million.

Enough to give them a modest life of leisure if that is what they want but not a life of the ultra-rich as an inheritance.

Also I don't think multi-billion dollar corporations should be bequeath-able to offspring and individuals.

I think people should be allowed to acquire wealth and build empires and become super-rich through their endeavours (assuming this is without unreasonably exploiting other humans). I think freedom to compete economically is how economies are driven to some extent. I just don't think massive wealth should ever be inherited as a birth right.

The problem is many countries like Britain are in a pathetic competition to attract the rich and so tax them fuck all.