Some billionaires have more wealth than GDPs of multiple countries
Eight richest individuals have more wealth than 3.6 billion people of developing world.
(Web Desk) – Everyone has a dream to get rich but for that there are certain conditions, suitable environment being one of them. America is among the countries where people like to start off their business knowing the fact that the environment is business-friendly and rate of return on investment is more than expected. This is why America tops in the Ultra Wealth Report with most number of rich people. New York City has clung to the top position with most billionaires.
The land of opportunities has been producing multiple billionaires in the world every year. The report released this year states other cities too where most number of billionaire reside. Hong Kong has grabbed the second position in the list and again another city of America San Francisco is on the third position. America is even on the top when it comes to countries. It is followed by China and then Germany.
According to research conducted by Oxfam, an international organization working to alleviate poverty around the world, only eight richest individuals have much wealth than 3.6 billion people.
Total wealth of the billionaires
The total wealth of the people included into this list is around $9.2trillion which is more than the gross domestic product (GDP) of Germany and Japan. It is quite interesting to become acquainted with the fact that the wealth is frozen to only some hands. Though for gaining this amount they might have struggled hard, but reality is world’s wealth is unevenly distributed this is why half of the population of the world is living below the poverty line.
According to research conducted by Oxfam, an international organization working to alleviate poverty around the world, only eight richest individuals have much wealth than 3.6 billion people. It is high time that the wealth of the billionaires benefit the poor to the extent possible.
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Edited and translated by Junaid Ali Malik
