These ‘8 Men’ Own as Much as Poorest Half of the World, Oxfam Reports as Global Elite Hobnobs in Davos

Even in ‘rich countries,’ more and more people ‘are no longer willing to tolerate the status quo.’ As the global elite descend upon Davos for the World Economic Forum to rub elbows, Oxfam released a report today which it introduced in this way:
It details how big business and the super-rich are fueling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics. It calls for a fundamental change in the way we manage our economies so that they work for all people, and not just a fortunate few.
Last year in its report, if figured that 62 people owned the same wealth as ‘the poorest half of the planet,’ but this year more data became available. Had this data been available last year, it would have shown that 9 men owned as much as the poorest half of the planet. Now it’s down to just 8:
Bill Gates Amancio Ortega Warren Buffett Carlos Slim Jeff Bezos Mark Zuckerberg Larry Ellison Michael Bloomberg.

This post was published at Wolf Street on Jan 16, 2017.