These eight billionaires are as 'rich as half the world'

From left Bill Gates Amancio Ortega Warren Buffett Carlos Slim Jeff Bezos and Mark Zuckberg are among the eight successful namesLifes unfair Now theres proof The eight richest people on planet Earth are worth more than the combined wealth of half the worldrsquos population says an analysis by OxfamThese eight multibillionaires have a combined fortune of 426 billion By contrast half the planetrsquos population that includes 36 billion people have a combined wealth of 409 billion The figures were published ahead of the gathering of the business and political elite at the World Economic Forum in Davos SwitzerlandThe wealth of the worldrsquos poorest 36 billion people is the equivalent to the combined net worth of six American businessmen one from Spain and another from Mexico Picked from Forbesrsquo billionaires list they include Microsoft founder Bill Gates Mark Zuckerberg who cofounded Facebook and Jeff Bezos founder of AmazonLarry Ellison left and Michael BloombergOxfam pointed to a link between the vast gap between rich and poor and growing discontent with mainstream politics around the world From Brexit to the success of Donald Trumprsquos 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 quordquo Oxfam said in its new report An economy for the 99 per centThe charity said new data on wealth distribution from countries such as India and China had prompted it to revise its own calculation having said a year ago the wealth of half the worldrsquos population was in the hands of 62 people Worldrsquos political and business elite will meet in Davos for the annual meeting of the World Economic ForumIn India the study recalled that lawmakers passed a disclosure mandate in 2013 requiring CEOpay ratios to be made public which is an important step towards informing the public about the level of inequality within companiesIt is not only in rich countries that CEOs Chief Executive Officers are rewarded with salaries that far outstrip average incomes A top executive in Indias largest cigarette manufacturer is being paid 439 times the median salary for employees at his company claimed the study citing a report by the capital markets regulator Securities Exchange Board of India SEBIIn contrast a CEO in IT services firm receives 416 times as much as the average employee of his company the study revealedWith the richest accumulating wealth at such an astonishing rate that the world could see its first trillionaire in 25 years the study found that one has to spend 1 million every day for 2738 years to spend 1 trillionAdmitting that global inequality was having a huge impact on womens lives the study found that women facing discrimination in the work place often find themselves at the bottom of the pileOn current trends it will take 170 years for women to be paid the same as menCorporate tax dodging costs poor countries at least 100 billion every year The amount is enough to provide education for 124 million children who are not in school the report observedThe per capita income of the top one per cent increased from over 38000 in 2005 purchasing power parity to 49800 while that of the bottom 10 per cent increased from 196 to 261Although both groups experienced the same percentage of income growth over the period the 65 per capita increase for the bottom 10 per cent was dwarfed by the increase for the top one per cent which was 182 times greaterThe average wealth of each adult belonging to the richest one per cent is 17 million ie 300 times greater than the wealth of the average person in the poorest 90 per cent although for many people in the bottom 10 per cent their wealth is zero or negative revealed the reportCorporate tax dodging costs poor countries at least 100 billion every year This is enough money to provide an education for the 124 million children who arent in school and prevent the deaths of at least six million children thanks to health care servicesExtreme inequality across the globe is having tremendous impact on womens lives Employed women who face high levels of discrimination in the work place and take on a disproportionate amount of unpaid care work often find themselves at the bottom of the pileCalling to reverse the trends through progressive policies that share economic rewards between people rather than concentrating returns to capital the report said income and wealth invested in public services and infrastructure could be used to improve social and economic opportunitiesWe need a human economy that works for the 99 per cent of the world population and benefits everyone not just the privileged few A new human economy that will create better and fairer societies where workers receive decent wages women and men get treated equally children will have opportunities added the reportHERES WHAT THEY ARE WORTHBill Gates Cofounder of Microsoftnet worth 75bnAmancio Ortega Founder of Zara owner Inditexnet worth 67bnWarren Buffett Largest shareholder in Berkshire Hathawaynet worth 608bnCarlos Slim Helu Owner of Grupo Carsonet worth 50bnJeff Bezos Founder and chief executive of Amazonnet worth 452bnMark Zuckerberg Cofounder and chief executive of Facebooknet worth 446bnLarry Ellison Cofounder and chief executive of Oraclenet worth 436bnMichael Bloomberg Owner of Bloomberg LPnet worth 40bn