Top 5 richest men double their wealth
The elite profited from the Covid-19 pandemic as recent studies have found that the five richest men in the world doubled what was in their already deep pockets British broadcaster ITV News reported.
Recent research also showed that the wealth gap skyrocketed as charity Oxfam International pointed out that someone could become a trillionaire within the next 10 years.
Global elite milieu the World Economic Forum (WEF) published a report from Oxfam which found that the top five wealthiest men’s fortunes grew from $405 billion in 2020 to $869 billion in 2023.
Oxfam International wrote on X, ex-Twitter, on January 14 “The fortunes of the five richest men have shot up by 114% since 2020. Meanwhile, 800 million workers have lost $1.5 trillion over the last two years due to inflation. It’s time to rein in runaway corporate power.”
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The UK-based organisation also noted that 5 billion people’s wealth declined in the same period of time.
The charity’s caretaker director, Amitabh Behar, noted that the current levels of wealth inequality had to cease and that capitalism, “is at the service of the super-rich”.
Currently, the wealthiest individual is the controversial Elon Musk. Amassing a personal fortune of just over $250 billion, the South African bought Twitter for $44 billion in October 2022 and renamed the social media giant “X” the following year. He is also the CEO of Tesla and Space X.
Just behind Musk in the rich list are LVMH boss Bernard Arnault ($201 billion net worth), Amazon founder Jeff Bezos ($168 billion net worth), Oracle CTO Larry Ellison ($135 billion net worth) and Berkshire Hathaway supremo Warren Buffet ($119 billion net worth).
The staggering figures have led to activists emphasising that the fat cats must fork out more in their tax bills than they currently do.
Levantis.me
