Posts Tagged ‘Carlos Slim Helu’

World’s 8 richest people, with $426bn in wealth, have same wealth as the 3.8 billion poorest 50%?

Posted by: adonis49 on: January 18, 2017

In: economy/finance | Essays | Events/Cultural/Educational/Arts | social articles
Leave a Comment

World’s eight richest people have same wealth as poorest 50%

Bill Gates, Amancio Ortega (Spanish fashion chain Zara), Warren Buffett, Carlos Slim Helú, Jeff Bezos, Mark Zuckerberg, Larry Ellison and Michael Bloomberg

The world’s eight richest billionaires control the same wealth between them as the poorest half of the globe’s population, according to a charity warning of an ever-increasing and dangerous concentration of wealth.

In a report published to coincide with the start of the week-long World Economic Forum in Davos, Switzerland, Oxfam said it was “beyond grotesque” that a handful of rich men headed by the Microsoft founder Bill Gates are worth $426bn (£350bn), equivalent to the wealth of 3.6 billion people.

The development charity called for a new economic model to reverse an inequality trend that it said helped to explain Brexit and Donald Trump’s victory in the US presidential election.

Oxfam blamed rising inequality on aggressive wage restraint, tax dodging and the squeezing of producers by companies, adding that businesses were too focused on delivering ever-higher returns to wealthy owners and top executives.

The World Economic Forum (WEF) said last week that rising inequality and social polarisation posed two of the biggest risks to the global economy in 2017 and could result in the rolling back of globalisation.

Oxfam said the world’s poorest 50% owned the same in assets as the $426bn owned by a group headed by Gates, Amancio Ortega, the founder of the Spanish fashion chain Zara, and Warren Buffett, the renowned investor and chief executive of Berkshire Hathaway.

The others are Carlos Slim Helú: the Mexican telecoms tycoon and owner of conglomerate Grupo Carso; Jeff Bezos: the founder of Amazon; Mark Zuckerberg: the founder of Facebook; Larry Ellison, chief executive of US tech firm Oracle; and Michael Bloomberg; a former mayor of New York and founder and owner of the Bloomberg news and financial information service.

Last year, Oxfam said the world’s 62 richest billionaires were as wealthy as half the world’s population.

However, the number has dropped to eight in 2017 because new information shows that poverty in China and India is worse than previously thought, making the bottom 50% even worse off and widening the gap between rich and poor.

With members of the forum due to arrive on Monday in Switzerland, where guests will range from the Chinese president Xi Jinping, to pop star Shakira, the WEF released its own inclusive growth and development report in which it said median income had fallen by an average of 2.4% between 2008 and 2013 across 26 advanced nations.

Norway, Luxembourg, Switzerland, Iceland and Denmark filled the top five places in the WEF’s inclusive development index, with Britain 21st and the US 23rd.

The body that organises the Davos event said rising inequality was not an “iron law of capitalism”, but a matter of making the right policy choices.

The WEF report found that 51% of the 103 countries for which data was available saw their inclusive development index scores decline over the past five years, “attesting to the legitimacy of public concern and the challenge facing policymakers regarding the difficulty of translating economic growth into broad social progress”.

Basing its research on the Forbes rich list and data provided by investment bank Credit Suisse, Oxfam said

the vast majority of people in the bottom half of the world’s population were facing a daily struggle to survive, with 70% of them living in low-income countries.

It was four years since the WEF had first identified inequality as a threat to social stability, but that the gap between rich and poor has continued to widen, Oxfam added.

“From Brexit to the success of Donald Trump’s presidential campaign, a worrying rise in racism and the widespread disillusionment with mainstream politics, there are increasing signs that more and more people in rich countries are no longer willing to tolerate the status quo,” the report said.

The charity said new information had shown that poor people in China and India owned even fewer assets than previously thought, making the wealth gap more pronounced than it thought a year ago, when it announced that 62 billionaires owned the same wealth as the poorest half of the global population.

Mark Goldring, chief executive of Oxfam GB, said: “This year’s snapshot of inequality is clearer, more accurate and more shocking than ever before. It is beyond grotesque that a group of men who could easily fit in a single golf buggy own more than the poorest half of humanity.

“While one in nine people on the planet will go to bed hungry tonight, a small handful of billionaires have so much wealth they would need several lifetimes to spend it. The fact that a super-rich elite are able to prosper at the expense of the rest of us at home and overseas shows how warped our economy has become.”

Mark Littlewood, director general at the Institute of Economic Affairs think-tank, said:

“Once again Oxfam have come out with a report that demonises capitalism, conveniently skimming over the fact that free markets have helped over 100 million people rise out of poverty in the last year alone.”

The Oxfam report added that since 2015 the richest 1% has owned more wealth than the rest of the planet.

It said that over the next 20 years, 500 people will hand over $2.1tn to their heirs – a sum larger than the annual GDP of India, a country with 1.3 billion people.

Between 1988 and 2011 the incomes of the poorest 10% increased by just $65, while the incomes of the richest 1% grew by $11,800 – 182 times as much.

Oxfam called for fundamental change to ensure that economies worked for everyone, not just “a privileged few”.

Note: Wealthiest 62 persons own half the global wealth or $3.6 trillion
1% of the richest own 99%o of global wealth or $7.6 trillion.

Question 1: what the wealth of the 62 person represents to the 1% richest?
Question 2: How many of the 62 families represent of the number of multinational companies?

Tags: adonis49, Amancio Ortega, Carlos Slim Helu, Davos, globe’s population, Mark Goldring, Mark Littlewood, Oxfam, World Economic Forum, World's richest people

Richest person ever: Emperor Mansa Musa, Timbuktu, Mali, and the next richest in history

Posted by: adonis49 on: May 21, 2015

Richest person ever: Mansa Musa, Timbuktu, Mali, and the next richest in history

You surely heard of Mansa Musa, the richest person ever.

The 14th century emperor from West Africa was worth a staggering $400 billion, after adjusting for inflation, as calculated by Celebrity Net Worth.

To put that number into perspective — if that’s even possible — Net Worth’s calculations mean Musa’s fortune far outstrips that of the current world’s richest man Carlos Slim Helu and the other rich people combined.

According to Forbes, the Mexican telecom giant’s net worth is $69 billion.

Slim edges out the world’s second wealthiest man, Bill Gates, who is worth $61 billion, according to Forbes.

Mansa Musa Of Mali Named World’s Richest Man Of All Time;

Gates And Buffet Also Make List

The Huffington Post Posted: 10/17/2012 EDT Updated: 10/21/2014 2:59 pm EDT

Some of the oldest fortunes in question date back 1,000 years.

No. 7 on the list, for example, is William the Conqueror.

The illegitimate son of the Duke of Normandy, William lived between 1028-1087 and gained infamy for invading and seizing England in 1066.

According to the Encyclopaedia Britannica, when Musa died sometime in the 1330s, he left behind an empire filled with palaces and mosques, some of which still stand today.

But the emperor really turned historic heads for the over-the-top extravagances of his 1324 pilgrimage to Mecca. (Mecca royal family must have reaped wealth due to these pilgrimage?)

The trip, which he embarked up on during the 17th year of the monarch’s glittering reign, was hosted by the leaders of both Mecca and Cairo and apparently was so brilliant, it “almost put Africa’s sun to shame.”

Musa’s wealth was a result of his country’s vast natural resources. The West African nation was responsible for more than half of the world’s salt and gold supply, according to Net Worth.

Of course, the entry also notes that the fortune was also fleeting. Just two generations later, his net worth was gone — wasted away by invaders and infighting.

As The Independent points out, while the numbers bandied about by this newest list are shocking, many aspects of the run-down aren’t surprising: there are no women included, for example, and only three of the richest men are still alive today.

Americans dominate the list, however, taking 14 of the 26 spots, including slots two and three. (In just 2 centuries?)

The “poorest” man on the list is Warren Buffet, who had a peak net worth of $64 billion. Buffet, a noted philanthropist, has since given billions of his fortune away, and Forbes now lists his net worth at closer to $44 billion.

Try to add up the net worth of the Rothschild family below and this family has amassed worth trillion from wars in Europe, USA and the rest of the world. They also own the Federal reserve bank.

Patsy Z shared this link

TED-Ed

Meet Mansa Musa, one of the wealthiest people in history:

WATCH: Mansa Musa, one of the wealthiest people who ever lived

Jessica Smith tells the story of how Mansa Musa literally put his empire – and himself – on the map.

ed.ted.com

Click through below for the 26 Richest Men Ever:

The Richest Men Ever

1 of 21

WikiMedia:

Estimated worth: $400 billion
Estimated worth: $350 billion (Pictured: Nathan Mayer Rothschild)
Estimated worth: $340 billion
Estimated Worth: $310 billion
Estimated worth: $300 billion
Estimated worth: $236 billion
Estimated worth: $229.5 billion
Estimated worth: $200 billion
Estimated worth: $199 billion
Estimated worth: $185 billion
Estimated worth: $178.65 billion
Estimated worth: $136 billion
Estimated worth: $146.13 billion (Pictured: St Peter’s Church in Ardingly, UK believed to have been established by the family of William de Warenne)
Estimated worth: $121 billion
Estimated worth: $118.6 billion (Pictured: Richard Fitzalan, 10th Earl of Arundel and his countess Eleanor)
Estimated worth: $110 billion (Pictured: Tomb of John of Gaunt and Blanche of Lancaster)
Estimated worth: $105 billion
Estimated worth: $90 billion
Estimated worth: $85.1 billion
Estimated worth: $80 billion

✖

1. Mansa Musa I – Ruler Of Malian Empire (1280-1331)

Estimated worth: $400 billion

And the rest:

21. Jay Gould (railroad tycoon, 1836-1892) $71 billion

22. Carlos Slim (business magnate, 1940- ) $68 billion

23. Stephen Van Rensselaer (land owner, 1764- 1839) $68 billion

24. Marshall Field (Marshall Field & Company founder, 1834-1906) $66 billion

25. Sam Walton (Walmart founder, 1918-1992) $65 billion

26. Warren Buffett (investor, 1930- ) $64 billion

Tags: adonis49, Carlos Slim Helu, Jessica Smith, Mali, Mansa Musa, richest person, Timbuktu

Current list of Billionaires: Nothing to do with vanity…

Posted by: adonis49 on: March 29, 2014

In: biographies/books | economy/finance | social articles
Leave a Comment

Current list of Billionaires

A few facts:

70% of Saudi wealth is in the hands of its billionaires, versus 24% in the Gulf Emirates

Ankara, the Capital of Turkey, has the most number of millionaires, about 45,000

London has the most concentration of wealthy people, tackled by New York

Apparently, Bill Gates overtook Carlos Slim Helu this year. What Gates did to increase his wealth for about $10 bn in a single year?

Rank	Name	Net Worth	Age	Source	Country of Citizenship
1	Carlos Slim Helu & family	$73 B	73	telecom	Mexico
2	Bill Gates	$67 B	58	Microsoft	United States
3	Amancio Ortega	$57 B	77	Zara	Spain
4	Warren Buffett	$53.5 B	83	Berkshire Hathaway	United States
5	Larry Ellison	$43 B	69	Oracle	United States
6	Charles Koch	$34 B	78	diversified	United States
6	David Koch	$34 B	73	diversified	United States
8	Li Ka-shing	$31 B	85	diversified	Hong Kong
9	Liliane Bettencourt & family	$30 B	91	L’Oreal	France
10	Bernard Arnault & family	$29 B	64	LVMH	France
11	Christy Walton & family	$28.2 B	59	Wal-Mart	United States
12	Stefan Persson	$28 B	66	H&M	Sweden
13	Michael Bloomberg	$27 B	71	Bloomberg LP	United States
14	Jim Walton	$26.7 B	66	Wal-Mart	United States
15	Sheldon Adelson	$26.5 B	80	casinos	United States
16	Alice Walton	$26.3 B	64	Wal-Mart	United States
17	S. Robson Walton	$26.1 B	70	Wal-Mart	United States
18	Karl Albrecht	$26 B	93	Aldi	Germany
19	Jeff Bezos	$25.2 B	50	Amazon.com	United States
20	Larry Page	$23 B	40	Google	United States
21	Sergey Brin	$22.8 B	40	Google	United States
22	Mukesh Ambani	$21.5 B	56	petrochemicals, oil & gas	India
23	Michele Ferrero & family	$20.4 B	88	chocolates	Italy
24	Lee Shau Kee	$20.3 B	85	diversified	Hong Kong
24	David Thomson & family	$20.3 B	56	media	Canada
26	Prince Alwaleed Bin Talal Alsaud	$20 B	58	investments	Saudi Arabia
26	Carl Icahn	$20 B	77	leveraged buyouts	United States
26	Thomas & Raymond Kwok & family	$20 B	–	real estate	Hong Kong
29	Dieter Schwarz	$19.5 B	74	retail	Germany
30	George Soros	$19.2 B	83	hedge funds	United States
31	Theo Albrecht, Jr. & family	$18.9 B	63	Aldi, Trader Joe’s	Germany
32	Alberto Bailleres Gonzalez & family	$18.2 B	82	mining	Mexico
33	Jorge Paulo Lemann	$17.8 B	74	beer	Brazil
34	Alisher Usmanov	$17.6 B	60	steel, telecom, investments	Russia
35	Iris Fontbona & family	$17.4 B	71	mining	Chile
36	Forrest Mars, Jr.	$17 B	82	candy	United States
36	Jacqueline Mars	$17 B	74	candy	United States
36	John Mars	$17 B	77	candy	United States
36	Georgina Rinehart	$17 B	59	mining	Australia
40	German Larrea Mota Velasco & family	$16.7 B	60	mining	Mexico
41	Mikhail Fridman	$16.5 B	49	oil, banking, telecom	Russia
41	Lakshmi Mittal	$16.5 B	63	steel	India
43	Aliko Dangote	$16.1 B	56	cement, sugar, flour	Nigeria
44	Len Blavatnik	$16 B	56	diversified	United States
44	Cheng Yu-tung	$16 B	88	diversified	Hong Kong
46	Joseph Safra	$15.9 B	75	banking	Brazil
47	Rinat Akhmetov	$15.4 B	47	steel, coal	Ukraine
47	Leonid Mikhelson	$15.4 B	58	gas, chemicals	Russia
49	Leonardo Del Vecchio	$15.3 B	78	eyeglasses	Italy
49	Michael Dell	$15.3 B	48	Dell	United States
51	Steve Ballmer	$15.2 B	57	Microsoft	United States
52	Viktor Vekselberg	$15.1 B	56	oil, metals	Russia
53	Paul Allen	$15 B	60	Microsoft, investments	United States
53	Francois Pinault & family	$15 B	77	retail	France
55	Vagit Alekperov	$14.8 B	63	Lukoil	Russia
56	Phil Knight	$14.4 B	75	Nike	United States
56	Andrey Melnichenko	$14.4 B	41	coal, fertilizers	Russia
58	Dhanin Chearavanont & family	$14.3 B	74	food	Thailand
58	Susanne Klatten	$14.3 B	51	BMW, pharmaceuticals	Germany
58	Vladimir Potanin	$14.3 B	53	metals	Russia
61	Michael Otto & family	$14.2 B	70	retail, real estate	Germany
62	Vladimir Lisin	$14.1 B	57	steel, transport	Russia
62	Gennady Timchenko	$14.1 B	61	oil & gas	Russia
64	Luis Carlos Sarmiento	$13.9 B	80	banking	Colombia
65	Mohammed Al Amoudi	$13.5 B	69	oil, diversified	Saudi Arabia
66	Tadashi Yanai & family	$13.3 B	64	retail	Japan
66	Mark Zuckerberg	$13.3 B	29	Facebook	United States
68	Henry Sy & family	$13.2 B	89	diversified	Philippines
69	Donald Bren	$13 B	81	real estate	United States
69	Serge Dassault & family	$13 B	88	aviation	France
69	Lee Kun-Hee	$13 B	72	Samsung	South Korea
69	Mikhail Prokhorov	$13 B	48	investments	Russia
73	Alexey Mordashov	$12.8 B	48	steel, investments	Russia
74	Antonio Ermirio de Moraes & family	$12.7 B	85	diversified	Brazil
74	Abigail Johnson	$12.7 B	52	money management	United States
76	Ray Dalio	$12.5 B	64	hedge funds	United States
76	Robert Kuok	$12.5 B	90	diversified	Malaysia
78	Miuccia Prada	$12.4 B	64	Prada	Italy
79	Ronald Perelman	$12.2 B	71	leveraged buyouts	United States
80	Anne Cox Chambers	$12 B	94	media	United States
81	Stefan Quandt	$11.9 B	47	BMW	Germany
82	Ananda Krishnan	$11.7 B	75	telecoms	Malaysia
82	Alejandro Santo Domingo Davila	$11.7 B	36	beer	Colombia
82	James Simons	$11.7 B	75	hedge funds	United States
82	Charoen Sirivadhanabhakdi	$11.7 B	69	drinks	Thailand
86	Zong Qinghou	$11.6 B	68	beverages	China
87	Dirce Navarro De Camargo & family	$11.5 B	–	construction	Brazil
87	John Fredriksen	$11.5 B	68	shipping	Cyprus
89	Gerald Cavendish Grosvenor & family	$11.4 B	62	real estate	United Kingdom
90	Harold Hamm	$11.3 B	68	oil & gas	United States
91	Rupert Murdoch & family	$11.2 B	82	News Corp	United States
91	John Paulson	$11.2 B	58	hedge funds	United States
91	Azim Premji	$11.2 B	68	software	India
94	Ernesto Bertarelli & family	$11 B	48	biotech, investments	Switzerland
94	Charlene de Carvalho-Heineken	$11 B	59	Heineken	Netherlands
94	Hans Rausing	$11 B	87	packaging	Sweden
94	Jack Taylor & family	$11 B	91	Enterprise Rent-A-Car	United States
98	Lui Che Woo	$10.7 B	84	gaming	Hong Kong
98	Laurene Powell Jobs & family	$10.7 B	50	Apple, Disney	United States
100	Eike Batista	$10.6 B	57	mining, oil	Brazil