With a reported US$75 billion to his name, Bill Gates is the wealthiest person in the world. But it may only be a matter of a 25 years before the Microsoft co-founder, or another of his ilk, becomes the inaugural member of trillionaires club.
The revelation comes from a new report from Oxfam International on global inequality.
The international aid organization said that the chasm between the ultra-rich continues to grow at an “alarming” rate, with the top 1 per cent gaining more income than the bottom 50 per cent over the last 25 years.
Oxfam pointed to Gates as evidence of this trend, noting that despite his “commendable” efforts to give much of his fortune away it has increased by more than 50 per cent, or $25 billion, since he left Microsoft in 2006.
“If billionaires continue to secure these returns, we could see the world’sRead More »from It may be only 25 years before the world has its first trillionaire