Oxfam: Eight men own the wealth of half the world’s population
January 16, 2017
Members of the Shining Mothers group, a community-based women’s group helping to teach business skills and raise awareness of their rights. The Shining Mothers discuss issues which affect them in their community and raise these at public meetings to ensure their voice is being heard by local government. Kawangware, Nairobi, Kenya. 2016. (Image by Allan Gichigi/Oxfam)
In a report published today to coincide with the Davos meeting of the world’s elite in the Swiss skiing resort, it was revealed that 8 men: Bill Gates (USA, Microsoft), Amancio Ortega (Spain, Inditex fashion group), Warren Buffett (USA, Berkshire Hathaway), Carlos Slim Helú (Mexico, Grupo Carso), Jeff Bezos (USA, Amazon), Mark Zuckerberg (USA, Facebook), Larry Ellison (USA, Oracle) and Michael Bloomberg (USA, Bloomberg news), control between them the wealth equivalent to that of 3.6 billion of the world’s poorest people.
Oxfam said on launching the report:
“New estimates show that just eight men own the same wealth as the poorest half of the world. As growth benefits the richest, the rest of society – especially the poorest – suffers. The very design of our economies and the principles of our economics have taken us to this extreme, unsustainable and unjust point. Our economy must stop excessively rewarding those at the top and start working for all people. Accountable and visionary governments, businesses that work in the interests of workers and producers, a valued environment, women’s rights and a strong system of fair taxation, are central to this more human economy.”
