Oxfam Study: Just 8 men own same wealth as half the world; 2 Canadians have wealth as a third of country
DAVOS – Eight men, from Bill Gates to Michael Bloomberg, own the same
wealth as the 3.6 billion people who make up the poorest half of humanity,
according to a new report published by Oxfam today to mark the annual meeting
of political and business leaders in Davos. The two richest Canadians have the
same amount of wealth as the poorest 30 per cent of the country combined,
according to the report. The Oxfam report says the wealth of billionaire businessmen
David Thomson and Galen Weston Sr. equals that of about 11 million Canadians.
Oxfam used Forbes’ billionaires list that was last published in March 2016 to
make its headline claim. According to the Forbes list, Microsoft founder Gates is
the richest individual with a net worth of $75 billion. The others, in order of ranking,
are Amancio Ortega, the Spanish founder of fashion house Inditex, financier Warren
Buffett, Mexican business magnate Carlos Slim Helu, Amazon boss Jeff
Bezos, Facebook creator Mark Zuckerberg, Oracle’s Larry Ellison and
Bloomberg, the former mayor of New York. Oxfam outlined measures that it
hopes will be enacted to help reduce the inequality.