Income Inequality

CNN announced today that the richest 8 people in the world have more money combined than 3.6 billion people combined. The population clock estimates 7.4 billion people live on this planet, so basically 8 people are richer than half the planet combined. What a horror show. 

“The men -- Bill Gates, Warren Buffett, Carlos Slim, Jeff Bezos, Mark Zuckerberg, Amancio Ortega, Larry Ellison and Michael Bloomberg -- are collectively worth $426 billion, the anti-poverty group said on Sunday.”

Some quick stats. These are all men, 75% are American, and half of these guys come from the tech sector. 25% of them made their money primarily by delivering the news, one from fashion, and Carlos Slim from whole litany of sources although he probably gets most associated with tobacco. Interesting to me is that no one on this list got most of their money from energy production. Also interesting to me that Microsoft, Google, Amazon and Facebook are represented, but the company making a majority of the actual profit is notably absent.