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The world’s richest billionaires worth more than half of the globe's population

by LLB Reporter
16th Jan 17 10:15 am

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The world’s eight richest billionaires control the same amount of wealth between them as the poorest half of the globe’s population, a charity has warned.

Oxfam said it was “beyond grotesque” that there are a handful of rich men who are worth $426bn (£350bn), this is equivalent to 3.6 billion people.

The charity blamed growing inequality on wage restraints, tax dodging and the squeezing of producers by companies.

It said businesses are too focused on getting ever-higher returns to wealthy owners and top executives.

The eight billionaires on the list:

  • Bill Gates, founder of Microsoft
  • Amancio Ortega, the founder of the Spanish fashion chain Zara
  • Warren Buffett, the renowned investor and chief executive of Berkshire Hathaway.
  • Carlos Slim Helú, the Mexican telecoms tycoon and owner of conglomerate Grupo Carso
  • Jeff Bezos, the founder of Amazon
  • Mark Zuckerberg, the founder of Facebook
  • Larry Ellison, chief executive of US tech firm Oracle
  • Michael Bloomberg, former mayor of New York and founder and owner of the Bloomberg news and financial information service.

Mark Goldring, chief executive of Oxfam GB, said: “This year’s snapshot of inequality is clearer, more accurate and more shocking than ever before. It is beyond grotesque that a group of men who could easily fit in a single golf buggy own more than the poorest half of humanity.”

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