The Oxfam on 16 January 2017 released a report entitled An economy for the 99 percent. The report was released Oxfam to mark the annual World Economic Forum (WEF) meeting of political and business leaders in Davos, Switzerland.
Highlights of the report
• The world’s eight richest people own the same wealth as the 3.6 billion people who make up the poorest half of humanity.
• The report describes that the big business and the super-rich are fuelling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics.
• Oxfam’s report shows how our broken economies are funnelling wealth to a rich elite at the expense of the poorest in society.
The world’s 8 richest people are -
• Bill Gates: Founder of Microsoft (net worth $75 billion)
• Amancio Ortega: Founder of Inditex, which owns the Zara fashion chain (net worth $67 billion)
• Warren Buffett: American CEO and largest shareholder in Berkshire Hathaway (net worth $60.8 billion)
• Carlos Slim Helu: Owner of Grupo Carso (net worth: $50 billion)
• Jeff Bezos: American founder, chairman and chief executive of Amazon (net worth: $45.2 billion)
• Mark Zuckerberg: American chairman, chief executive officer and co-founder of Facebook (net worth $44.6 billion)
• Larry Ellison: American co-founder and CEO of Oracle (net worth $43.6 billion)
• Michael Bloomberg: American founder, owner and CEO of Bloomberg LP (net worth: $40 billion)
What: Released by Oxfam
When: 16 January 2017