World’s 85 richest own wealth close to that of poorest 3.5B: report

Daily Nation

Davos, Switzerland

According to an Oxfam report, almost half the world’s wealth – $110 trillion – is owned by just 1 per cent of its population.
According to an Oxfam report, almost half the world’s wealth – $110 trillion – is owned by just 1 per cent of its population.

The 85 richest people on the planet have as much wealth as that of half the world’s population, a meeting of political and financial leaders in Davos has been told.

According to an Oxfam report, almost half the world’s wealth – $110 trillion – is owned by less than one per cent of its population.

The agency released its study findings on the eve of the World Economic Forum, that started on Wednesday.

The meeting brings together influential figures in international trade, business, finance and politics including David Cameron and George Osborne.

31 AMERICANS

He is followed by Bill Gates, the Microsoft founder and philanthropist, whose worth is *Top is Carlos Slim Helu, the Mexican telecommunications mogul, whose family’s net wealth is estimated by Forbes magazine at $73 billion.

*Top is Carlos Slim Helu, the Mexican telecommunications mogul, whose family’s net wealth is estimated by Forbes magazine at $73 billion.
*He is followed by Bill Gates, the Microsoft founder and philanthropist, whose worth is put at $67 billion and is one of 31 Americans on the list.
*The world’s richest woman, Liliane Bettencourt, sits on a family fortune of $30 billion derived from L’Oréal, the cosmetics company.
put at $67 billion and is one of 31 Americans on the list.

Other well known names include the business magnate Warren Buffett, whose estimated worth is $53.5 billion, and Larry Page, the co-founder of Google, with $23 billion.The world’s richest woman, Liliane Bettencourt, sits on a family fortune of $30 billion derived from L’Oréal, the cosmetics company.

According to Forbes, the richest person in the UK (and 89th in the world) is the Duke of Westminster, whose property empire has boosted his wealth to $11.4 billion.