Dear MEL Topic Readers,
The top 26 billionaires own $1.4 trillion — as much as 3.8 billion other people
How many billionaires do you think there are in the world? According to a report released by Oxfam, a charitable organization focusing on the alleviation of global poverty, there are over 2,200 individuals whose net worth exceeds one billion US dollars. To your surprise, the report says as much as 1.4 trillion dollars is owned only by 26 top billionaires. That amount is equivalent to the total wealth of the poorest half of the world population.
Redistribution of the fortune of the wealthiest is one way to improve the living standards of the poor. However, the organization recommends providing quality health care, decent education, and more participation of female workforce to narrow the inequality in the long run. For example, especially in poorer countries, it is often the girls and women who are forced to care family members and do house chores unpaid instead of attending school or earning money.
Will this matter, and possibly the global climate change, be discussed in the annual World Economic Forum in Davos by the most wealthy and influential people in the world?
Enjoy reading and think what the private fortune could do to help the people and the planet.
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