Billionaires or wealthiest 1% set to be richer than other 99% combined. Actually, the richest 1 per cent currently own 48 per cent of all global wealth, Oxfam says.
Using data from Credit Suisse’s latest global wealth report, the charity warns that rising inequality is holding back the fight against global poverty at a time when more than a billion people still live on less than $1.25 (83p) a day. The report warns that global wealth “is becoming increasing concentrated among a small, wealthy elite”.
Winnie Byanyima, executive director of Oxfam International, said:
The scale of global inequality is quite simply staggering, and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast. Failure to tackle inequality will set the fight against poverty back decades.
But there are 10 important things about their lives and businesses that billionaires would never speak about.
1. The rich are richer
During the last year the total amount of money controlled by billionaires reached a record value of $ 5.4 billion compared to $ 3.5 trillion in 2007. Not to mention the members of the royal family and politicians. The list of billionaires has 200 new members, and now has 1,426 names in total. The low interest rates on loans, volatility in the stock market and property market recovery: all this helped the rich to recover their losses and even multiply their fortunes, reports Vesti Finance
2. A million is very little
Today a million dollars is not synonymous to wealth. A man or woman who has devoted much time and effort to “make the first million,” today will not enjoy the attention or respect of the rich.
3. Equality does not exist!
Of the 1,426 billionaires only 138 are female. Only 4% of the entire list of CEOs of companies ‘Fortune 1000’ are women. Experts suggest that men often are more motivated by the desire to please the girls. It is assumed that this was the path chosen by Mark Zuckerberg.
4. Billionaires have the best education
According to statistics, American billionaires have better education. A typical billionaire born in a happy family, receives an excellent education, and thus gain an advantage over their equally talented peers. Outside the U.S., the situation is often similar.
5. Wastage is not a crime
Billionaires do not hesitate to make purchases, which then cause irritation in the press worldwide. A common person would believe that buying luxury items is a waste. However, if you compare the cost of things and the income of billionaires, it is often not seen as more than the rest of us.
6. Better live together than distribute the money
The billionaires rarely have time for a divorce. 84% of billionaires are married and only 8% are divorced. In comparison, in U.S. 40-50% of marriages end in divorce.
7. Hard to win 1,000 million in the trade market
To win 1,000 million in 20 years, you will first have to invest $ 65 million in securities, experts say. They explain that it is easier to get rich quickly by opening your own business and pulling it out to the trade market. This is the case of most of the big companies today such as Facebook.
8. Billionaires evade taxes
No accurate statistics describing how often billionaires evade taxes. One reason is that there are many ways and some of them are legal. The law seems to be done for the rich.
9. Much Money does not bring happiness to families
The relationships in many of the wealthiest families are distorted, since they are built around money, rather than the personal qualities and affection for one another. For example, Australia’s richest woman, Gina Rinehart, is being sued by his own sons for trying to delay the time to inherit her fortune.
10. The children will not receive anything
A new trend log: leave nothing to heirs. Warren Buffett pledged to give away 99% of his fortune to others rather than to their own children so that they learn the necessary conditions for a successful life. Barron Hilton, David Rockefeller, Ronald Perelman and other billionaires have joined this movement and also promise to give up an important part of their capital.