You won't believe how RICH these men are...

An article published recently by CNN reveals that eight men -- Warren Buffett, Carlos Slim, Bill Gates, Jeff Bezos, Mark Zuckerberg, Michael Bloomberg, Larry Ellison, and Amancio Ortega -- are insanely rich. Collectively, they're worth $426 billion, now controlling as much wealth as the world's poorest 3.6 billion people.

To put it in perspective, the richest 1% has owned more wealth than the rest of the planet since 2015. In the U.S., the richest 1% control 42% of the wealth.

And the problem is only getting worse.
Despite many world leaders sharing a common goal to reduce inequality, the gap between the rich and the rest continues to widen.

In fact, seven out of 10 people live in a country where inequality has worsened over the past three decades. And over the past 25 years, the top 1% has gained more income than the bottom 50% combined.

In other words, income and wealth are being funneled upwards at a staggering rate -- rather than trickling down.

To boot, there's also a clear gender disparity. Of the 1,800 billionaires around the world, nearly 90% of them are men.

There's no question that rising economic inequality is a major threat to social stability. While President Obama addressed inequality in the U.S. in numerous speeches and campaign rallies before and during his two terms in office, the problem persists. Such inequality is not only to blame for trapping millions in poverty, but poisoning our politics and splintering our societies.

My hope is that President-elect Trump and other leaders on the national stage will step up efforts to narrow the gap in 2017 and beyond. Otherwise, the rich will only get richer and the poor will continue being pulled in the opposite direction.

No comments: