Oxfam said the fortunes of the five richest men — Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Warren Buffett — have spiked by 114% in real terms since 2020.

DAVOS, Switzerland (AP) — The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos.

  • MagicShel@programming.dev
    61·
    10 months ago

    The idea that one person could generate enough benefit to mankind in a year that they have fairly earned a billion dollars is ludicrous. The existence of billionaires is self-evident proof that the system is broken. It’s impossible for one person to have that through means other than denying other people their fair share.

    That being the case, no one under the age of 1000 at least should ever be worth a trillion dollars.

  • AllonzeeLV@lemmy.world
    511·
    10 months ago

    Yes, the problem of wealth concentration is going unaddressed and getting worse.

    The few with more than they need to live large for a thousand lifetimes using their ill gotten, exploitation derived wealth to exploit more wealth while contributing no labor to the society they extract value from without any consideration, let alone any appreciation for the society that provided the conditions for their great wealth in the first place. In essence, our oligarchs are fracking human civilization, for nothing more than ego.

    This is what happens when you pretend a problem isn’t a problem, and is in fact our purpose in life. In a crisis, the US’s first declaration is that “we must protect our beloved society economic system of systematic exploitation.” where else would such a road lead?

    https://markets.businessinsider.com/news/stocks/stock-market-ownership-wealthiest-americans-one-percent-record-high-economy-2024-1

    • ALQ@lemmy.world
      8·
      10 months ago

      Why waste the resources sending perfectly good stew meat into the sun?

      Worst case scenario, they feed the pigs.

  • zbyte64@lemmy.blahaj.zoneEnglish
    16·
    10 months ago

    The problem with eating the rich is all the crazy drugs they take makes their meat rancid. Zuck however is probably the tastiest due to is wagyu diet and exercise routine.

  • eran_morad@lemmy.world
    13·
    10 months ago

    Same as it ever was. First of all, we’re talking basically about infinite money, past a certain number it transitions into a qualitative regime. Several people have had that over the course of human history. Most of them were fucking murderous douchecunts. History shows that they either pass their power to other douchecunts, with the chain broken by incompetence over many generations and at the cost of countless lives, or they meet a violent end — choose your own adventure. Shout out to the very few who have given away their fortunes in their lifetimes.

    • Flying Squid@lemmy.world
      7·
      10 months ago

      It might as well be infinite money right now. All of these billionaires have more money than they can spend in their lifetimes.

  • webghost0101@sopuli.xyz
    12·
    10 months ago

    Thats their take???

    The numbers are as follows:

    The 1% own 43% off all wealth.

    The 5 richest men raised their wealth by 114% in three years.

    To offset the difference in rate increase between total 1% and top 5 aswell as the total amount of wealth also increasing with innovation we will pretend this number is a stable 100% increase every 3 years while we actually expect that rate to increase exponentially.

    That means in 3 years the 1% will have 86% of all wealth.

    If we dont solve wealth equality before 2030 more than 99% of the world will have to share less then 1% of existing wealth. By that time i believe no economy can sustain. People will be better of growing food in their garden and trading with their neighbous.

    • girlfreddy@lemmy.ca
      2·
      10 months ago

      People will be better of growing food in their garden and trading with their neighbours.

      Which the gov’t will then start taxing because the top 1% will not be taxed at all.

      • webghost0101@sopuli.xyz
        2·
        10 months ago

        What government? And taxes using what valuta?

        When we get close to the 1% owning 99% of wealth i (which we cant know if it really will happen but it can be within 5 years based on oxfams recent numbers) People will have nothing left to pay with, employers and governments besides the 10 “winner” megacorps no institution will have money to afford staff.

        There might be still some form employment as part of the corpos private army which may pretend to be a government but i highly doubt people will have to worry about giving up a % of their crops more like there land and lives.

        I recognize i am sketching a very pessimistic picture here. I want to note i am equal optimist and pessimist. Maybe before that time the signals will be clear enough for a global wealth tax an ubi. I see many ways for the world to become great or horrible and feel like its important to get a grasp of all possibilities, even the extreme ones. The only thing i can truly say for certain is that change is inevitable.

        As a kid i was often told “no one person can change the world” but no one person can stop change from happening either.