January 21, 2014
The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.
Yes, that equation works out to: 85 > 3,000,000,000.
Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.
Read more. [Image: Reuters]

The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.

Yes, that equation works out to: 85 > 3,000,000,000.

Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.

Read more. [Image: Reuters]

  1. tundrazone reblogged this from theatlantic
  2. heyimaghost reblogged this from hate-baguettes-hate
  3. hate-baguettes-hate reblogged this from theatlantic
  4. neepolonius reblogged this from pilotjbug
  5. kittiesandjesus reblogged this from pilotjbug
  6. pilotjbug reblogged this from poppunkvampire
  7. lambdalass16 reblogged this from geekydorknyc
  8. geekydorknyc reblogged this from geejayeff
  9. painfuldestiny reblogged this from geejayeff
  10. ajhanderson reblogged this from geejayeff
  11. shivz33 reblogged this from blackstaraura
  12. aggressively-sarcastic reblogged this from geejayeff
  13. choclit98 reblogged this from geejayeff
  14. geejayeff reblogged this from okay-you-win
  15. blackstaraura reblogged this from okay-you-win
  16. okay-you-win reblogged this from stayingwoke
  17. mistressj reblogged this from stayingwoke
  18. mega-daydreamer00 reblogged this from stayingwoke
  19. stayingwoke reblogged this from babycakesbriauna
  20. enterpriseagainstilliteracy reblogged this from werewolfprincessaryas
  21. global-minimum-wage reblogged this from theatlantic
  22. willyoufallwithme reblogged this from werewolfprincessaryas
  23. cranberrydeception reblogged this from werewolfprincessaryas
  24. metallicminerva reblogged this from broadlybrazen
  25. unknownpressures reblogged this from poppunkvampire
  26. ilelefant reblogged this from theatlantic
  27. warpuppy3 reblogged this from dragonsatmidnight and added:
    I should be throwing more cash into savings
  28. dragonsatmidnight reblogged this from wheelchairsex
  29. she-who-shines reblogged this from poppunkvampire
  30. hermosx reblogged this from poppunkvampire
  31. wheelchairsex reblogged this from poppunkvampire
  32. whattheworldisreallylike reblogged this from insertwittyremarkhere
  33. vysov reblogged this from poppunkvampire
  34. poppunkvampire reblogged this from insertwittyremarkhere and added:
    I’m so mad about this that I sat for several seconds in silence hating everything before I could reblog
  35. insertwittyremarkhere reblogged this from broadlybrazen