DAP Posted January 17 Posted January 17 Quote The world's five richest men have more than doubled their fortunes to £688bn in three years - while the wealth of the poorest 60% has fallen, according to Oxfam. It says the first trillionaire could emerge within a decade but that poverty won't be eradicated for 229 years. The charity's report, Inequality Inc, comes as business and political leaders meet for the World Economic Forum in the upmarket Swiss ski resort of Davos. It's traditionally used the occasion to highlight the divide between rich and poor, but this year says the gap has been "supercharged" since the pandemic. The fortunes of Tesla boss Elon Musk, Bernard Arnault - owner of luxury goods firm LVMH, Amazon founder Jeff Bezos, Oracle's Larry Ellison and investment guru Warren Buffet, have increased 114% in real terms since 2020, says Oxfam. Their collective wealth is said to have grown from £321bn to £688bn. Musk alone is estimated to be worth about £180bn, according to the real-time Forbes list Oxfam used for its calculations. However, the 4.7 billion people who make up the world's poorest 60% have become 0.2% poorer in real terms, Oxfam says, with many countries unable to give the COVID financial support of richer nations. The charity's interim boss says the prospect of a trillionaire in the next 10 years - while poverty could take 200-plus years to resolve - was "totally unacceptable" "This ever-widening gulf between the rich and the rest isn't accidental, nor is it inevitable," said Aleema Shivji. "Governments worldwide are making deliberate political choices that enable and encourage this distorted concentration of wealth, while hundreds of millions of people live in poverty. "A fairer economy is possible, one that works for us all. What's needed are concerted policies that deliver fairer taxation and support for everyone, not just the privileged." Oxfam is hoping its report can help pressurise policymakers in Davos for the 15-19 January summit. Among those attending are Ukraine's President Volodymyr Zelenskyy, Argentina's new president Javier Milei, Chinese Premier Li Qiang, and European Commission chief Ursula von der Leyen. Oxfam wants governments to reduce corporate power by measures such as breaking up monopolies, capping bosses' pay and bringing in higher taxes on excess profit and wealth. It's also pushing for alternatives to the shareholder model, such as forms of employee ownership, and more fair-trade businesses. https://news.sky.com/story/worlds-richest-men-double-their-wealth-in-three-years-as-oxfam-warns-of-first-trillionaire-13048652?dcmp=snt-sf-twitter 1
poki Posted January 17 Posted January 17 Don't worry the trick down economics will go into effect soon. 1
slowdive Posted January 17 Posted January 17 Ok but like we literally need a people’s revolution. Like stat. 2
Johnny Jacobs Posted January 17 Posted January 17 22 minutes ago, Dula Peep said: Imagine if they paid taxes too 1
bjorn Posted January 17 Posted January 17 Need a wealth cap stat. Should be a law not to own more than let’s just throw a number out, $5B. Rest should disperse to the absolute poorest.
BGKC Posted January 17 Posted January 17 There’s really no where else to go but up once you can afford endless amounts of passive income like it’s nothing. Working class people are playing in a corporate system where the cost of living is set to benefit from the upper-middle class families at this point in the game. There’s no longer any appreciation or long term rewards for working class citizens. They are deemed disposable, exploitable pawns who aren’t disciplined or smart enough to climb out of their impoverished hole. It’s all about those with enough generational wealth to comfortably pay the otherwise substantial amounts in rent, tuition and other living costs while the rest play catch up.
GraceRandolph Posted January 17 Posted January 17 2 hours ago, bjorn said: Need a wealth cap stat. Should be a law not to own more than let’s just throw a number out, $5B. Rest should disperse to the absolute poorest. $5B is way too high 1
Cain Posted January 17 Posted January 17 3 hours ago, Hey Dude said: Don't worry the trick down economics will go into effect soon. Any day now!
Gelato Posted January 17 Posted January 17 don't worry, we now have the innovation of the ethical billionaire
bjorn Posted January 17 Posted January 17 1 hour ago, GraceRandolph said: $5B is way too high Enough money to spend and live an ultra luxurious life for a lifetime and for generations to come. Elon Musk net worth is $230B…
Feanor Posted January 17 Posted January 17 And some stans still brag about rich people's net worths. Tax the rich.
Kyoto Posted January 17 Posted January 17 And then you have poor people "stanning" Elon Musk and other billionaires.
NEX Posted January 17 Posted January 17 2 hours ago, GraceRandolph said: $5B is way too high Nah. No one should be allowed to reach a billion. And the wealth shouldn't be just dispersed either. There needs to be a fairer system allowing people to earn a fair wage. 1
GraceRandolph Posted January 17 Posted January 17 57 minutes ago, =NEX= said: Nah. No one should be allowed to reach a billion. And the wealth shouldn't be just dispersed either. There needs to be a fairer system allowing people to earn a fair wage. I didn’t say $5B is too low, I don’t think people need anywhere close to that.
cOe Posted January 17 Posted January 17 It's just rebranded slavery but this time the slaves are the "lazy ones" and are given the bare minimum so that they have no right to complain
MattieB Posted January 17 Posted January 17 I know Elon will taste well with Tabasco, he'll just need a hint of seasoning. Adobo, perhaps
MattieB Posted January 17 Posted January 17 Just now, Lyrica said: He saved X (formerly t*itter) so he deserves it Brain rot
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