Wealth: World’s Richest 62 = Half the World’s People - How to Respond

The wealth of the world’s richest 62 people’s equals that of half the world’s people, according to a new study by OXFAM, released this past January at the World Economic Forum.

Among the ten richest people in the world are five Americans:

# 1 Bill Gates, $79.2 billion;

#3 Warren Buffett $72.7 billion

#5 Larry Ellison $54.3 billion

#6 David Koch $42.9 billion

#8 Christy Walton $41.7 billion

#9 Jim Walton $40.6 billion

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TOTAL $331.4 billion

The Walton family, owners of Walmart, have a total of $119.7 billion in wealth, including Alice’s $37.4 billion, making them the richest family in the U.S,

Walmart has finally raised its workers minimum wage in response to workers’ protests. CEO Doug McMillon has acknowledged that the company had sacrificed customer loyalty due to its pay practices.

OXFAM made the following statement:

Extreme inequality is the defining challenge of our time, but it is not inevitable, and can be tackled. Much can be done to even it up, and make the world a fairer place.

Together we must call on governments to commit to:

- Ensuring tax systems are fair and free of loopholes so that the richest pay their fair share.

- Investing in vital public services – like universal healthcare and education – so everyone has a fighting chance.

- Making sure everyone has decent jobs with fair pay.

- Ensuring economic policies work to close the gap between women and men.

- Working for their citizens, first. The interests of the richest can no longer be put ahead of those of the rest of us.

That will happen only when we the people come together to organize, protest, and vote for politicians who protect the common good.

You can find the voting records and positions of presidential candidates, your senators and representative at websites such as Vote Smart.

OXFAM is an international confederation of 17 organisations working in approximately 94 countries worldwide to find solutions to poverty and what it considers injustice around the world. Molly Rush is a member of the TMC board, editorial collective and HealthCare4AllPA

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