30 Sep 2021
Billionaires: Global Wealth Distribution
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
This is amazing, there are almost 7.9 billion people on the planet and 10 (thats right, ten, the number of fingers on two hands) are now worth over US$100 billion.
These top 10 richest are listed above.
For capitalism to continue to work it needs to evolve because the single minded pursuit of profit at all cost will result in even more extreme inequality than exists today which can only lead to social chaos and the breakdown of society.
Everyone then loses.
If you doubt this, just consider that at present 1.1% of the global population holds 45.8% of global wealth while almost 4.4 billion people (55% of the global population) cannot even amass US$10,000.
Click for chart.
The fact is that there are vastly more poor people than wealthy and when the poor cannot feed their family then social chaos and revolution follows. Think Marie Antoinette.
Capitalism needs to evolve to survive.
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