Select Page

India’s richest 1% or 57 billionaires, led by Mukesh Ambani, own $216 billion or 58% of the country’s wealth. Worldwide, 8 billionaires hold about 50% of global wealth, according to a study by non profit rights group Oxfam. This article talks about Oxfam report on Inequality in World, 8 Wealthiest Men in the World, and Richest People in India and how wealth is distributed in India.

Oxfam Report on InEquality in World and Davos

Just eight men own the same amount of wealth as the poorest half of the world, estimates a new paper from Oxfam, an international non-government organisation. Oxfam has an annual tradition of releasing a report to coincide with the World Economic Forum in Davos.  The charity’s report suggests the wealth gap is wider than ever, with new data for China and India indicating that the poorest half of the world owns less than previously estimated.  Oxfam bases its calculations on data from Forbes.

Davos

Davos is a small town in the Swiss Alps and  is home of one of Switzerland’s biggest ski resorts. Every January Davos hosts the World Economic Forum (WEF) – a gathering of presidents, prime ministers, business leaders, economists, and celebrities.The conference’s official calendar is full of panel discussions and speeches, while off-schedule there will also be private meetings between politicians, business leader,s and senior bankers to discuss the key economic issues of the day.

More than 2,500 people will attend this year’s WEF from 90 different countries. The theme of 2017’s meeting is responsive and responsible leadership. This has been broken down into five key areas: strengthening global collaboration, restoring economic growth, reforming capitalism, addressing the identity crisis which has caused the current populist revolution and preparing for the Fourth Industrial Revolution. Donald Trump’s imminent presidency, Brexit and China are set to be key topics of discussion

Oxfam report on Inequality in World

The analysis, part of a series of papers written on humanitarian policy issues, attributes this “unsustainable and unjust“ global situation to the “design of our economies“ and calls for ending “excessive“ rewards for those at the top. Oxfammakes a strong case for tackling growing inequality, which, it says, will lead to social unrest and instability.

Wealth of world billionaires

Wealth of world billionaires

Oxfam, which described the gap as “obscene”. In 2010, by comparison, it took the combined assets of the 43 richest people to equal the wealth of the poorest 50 percent, according to the latest calculations. Oxfam called in its report for a crackdown on tax dodging and a shift away from “super-charged” shareholder capitalism that pays out disproportionately to the rich.

While many workers struggle with stagnating incomes, the wealth of the super-rich has increased by an average of 11 percent a year since 2009. It‟s time to build a human economy that benefits everyone, not just the privileged few

Inequality has moved up the agenda in recent years, with the head of the International Monetary Fund and the Pope among those warning of its corrosive effects, while resentment of elites has helped fuel an upsurge in populist politics.

Extent of Inequality in wealth

Extent of Inequality in wealth

8 Wealthiest Men in the World

8. Michael Bloomberg: $40 billion

Michael Bloomberg may be best known to the public as the former mayor of New York, but he made his fortune through Bloomberg LP, a financial data and news company whose premium-priced service is used by many of the top Wall Street firms.

7. Larry Ellison: $43.6 billion

Larry Ellison owes his wealth to Oracle, the software giant he founded in 1977. Along with his database company, Ellison is known for his lavish lifestyle: in 2012, he bought an entire Hawaiian island for $300 million. He’s also a dedicated fan of yachting and sponsors his own America’s Cup racing team.

Ellison hasn’t stinted when it comes to philanthropy. He’s one of the billionaires who has signed the Giving Pledge, which is a commitment some of the world’s richest people have made to donate most of their wealth to charity before their deaths.

6. Mark Zuckerberg: $44.6 billion

Mark Zuckerberg famously dropped out of Harvard after co-founding the social network that counts nearly 1.2 billion active daily users. Soon after moving to California in 2004 to grow the new service, Zuckerberg and his partners attracted venture capital and turned down a $1 billion buyout offer from Yahoo. The company went public in 2012, instantly making Zuckerberg a multi-billionaire.

Like Ellison, Zuckerberg and his wife Priscilla Chan have pledged to give the bulk of their wealth away through The Giving Pledge. In a letter about their pledge, they said they had “benefited from good health, great education and support from committed families and communities.” They added, “We believe that in the next generation, all of our children should grow up living even better lives and striving for even more than we think is possible today.”

5. Jeff Bezos: $45.2 billion

Amazon.com founder Jeff Bezos, a Princeton grad, worked on Wall Street after college, including the quantitative-focused investment firm D.E. Shaw. After coming up with the idea of an Internet retailer while driving across the country, he left his financial job to start Amazon.com.

4. Carlos Slim Helu: $50 billion

Slim Helu owes his fortune to his stakes in Mexican companies through Grupo Carso, his conglomerate. Many of his investments are in telecom, media, real estate and health care

3. Warren Buffett: $60.8 billion

Known as the Oracle of Omaha, Warren Buffett built his fortune through Berkshire Hathaway, the holding company of which he’s the largest shareholder. Buffett is known for his value investing approach, which involves searching for businesses that are trading for less than their intrinsic value.

Among the companies Berkshire Hathaway owns are Benjamin Moore, Burlington Northern Santa Fe, Dairy Queen, Duracell, Fruit of the Loom, Geico, NetJets and See’s Candies. It also owns major stakes in American Express, Coca-Cola, John Deere, IBM, Kraft Heinz, Goldman Sachs, Phillips 66 and Wells Fargo.

Buffett was one of the creators of the Giving Pledge, and has sought to convince other billionaires to join. He once said, “I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing.”

2. Amancio Ortega: $67 billion

Many may not Amancio Ortega Gaona by name, but many know the company that created his fortune: Zara, the Spanish clothing chain that’s gained a following in Europe and the U.S. for its stylish, moderately-priced clothing. He retired last year as chairman of Inditex, the parent company of Zara whose shares in recent years have jumped roughly 25 percent.

Ortega has been investing in real estate in major cities including Madrid, London, and New York, according to Forbes, which values his real estate holdings alone at $8 billion.

1 Bill Gates: $75 billion

Bill Gates has maintained his status as America’s wealthiest person for 23 years in a row, according to Forbes. Gates owes his fortune to co-founding Microsoft in 1975, although he now owns just 2.5 percent of the company’s stock.

Since stepping down as Microsoft’s chairman in 2014, he has increasingly devoted his time to the Bill & Melinda Gates Foundation, which focuses on eradicating illnesses in the developing world.

“Our animating principle is that all lives have equal value,” the Bill and Melinda Gates wrote in a letter on the Giving Pledge’s website. “Put another way, it means that we believe every child deserves the chance to grow up, to dream and do big things.”

8 Wealthy people of world

8 Wealthy people of world

Richest People in India

In India, the richest 1% possess 58% of the country’s wealth -higher than the global figure of about 50%.

Richest Men in India

Richest Men in India

Share
123movies

If you love watching movies online for free, moviebox pro apk is one of the best in the market.

123 free movies cuevana.email