80 richest people on the planet have the same wealth as the poorest 50%

[gr8n8]

Make of this what you will.

• By 2016, the top 1% of the world’s population will have more wealth than the other 99%
• 80 richest people on the planet have the same wealth as the poorest 50% (3.5 billion)
• The poorest 80% own just 5.5% of the world's wealth
• The richest 80 doubled their worth in cash terms between 2009 and 2014
• More than a third of the 1,645 billionaires listed by Forbes inherited some or all of their riches
• Britain’s 100 richest had the same wealth as 30% of UK households
• The financial sector contributed $571 million to various campaigns during 2012 U.S. presidential elections
• In 2013, financial and insurance lobbies gave $550 million to policymakers in Washington and Brussels

ps: Before anyone blindly starts proselytizing about Bitoin, keep in mind the same pattern has/is emerging in crypto as well.
Less it be forgotten, the top 100 addresses own 20% (2,875,298 BTCs) of all BTCs mined thus far (13,736,250, as of block #339,450).

i think a fair number of top 100 btc wallets are satoshi and exchanges

[1715541183]

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[teukon]

From the article:

The message is that rising inequality is dangerous. It’s bad for growth and it’s bad for governance. We see a concentration of wealth capturing power and leaving ordinary people voiceless and their interests uncared for.

It takes two to tango.  If merely having wealth is a concern vis-à-vis corruption then surely simply having power is equally problematic.  When you say that the poor are voiceless aren't you really just admitting that a person's vote is practically worthless and that worldwide "power inequality" is already far more extreme than wealth inequality?  It sounds as if you're suggesting that political systems worldwide are already so heavily broken that we must rely on corruption to afford some level of fairness and therefore need to aim for a more even distribution of wealth so as to emulate democracy with money in place of votes.

Do we really want to live in a world where the 1% own more than the rest of us combined? The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast.

You're just appealing to the reader's envy.  Your behaviour is appauling and you ought to be ashamed.

This is not to say that there are no political or economic problems in the world today, far from it.  I simply claim that increasing wealth inequality is a symptom, not a problem in itself, and that we could do with more noble attempts to help others (such as the Bitcoin experiment, part of an ambitious attempt to diffuse central bank power) and fewer people trying to "raise awareness" by baffling people with emotionally charged bullshit.  If a result of your conduct leads to an increase in political power anywhere to force a different wealth distribution then you'll have done the equivalent of painting a rash with skin-coloured paint.

[B.A.S.]

With fiat, the ruling wealthy can continuously inflate the currency and still maintain their wealth without redistribution.

Most of the value held by rich people is not in the form of money, but in the form of assets (mainly capital, that is production, assets, such as companies).

The distribution of wealth has not much to do with the monetary policy.  In fact, only relatively poor people have a large part of their holdings in money.  Everything which devaluates money is in fact punishing more the lower economic classes which have less means to protect their stores of value.

Welcome to the elite my friend! The elite in practical knowledge that is. It's a shame few realize what you've said. Getting rich is for poor people, making money is for the rich.

[flipstyle]

The distribution of wealth has little to do with inflation, if any.  The top wealthiest individuals on this planet all come from old family money which has been kept and transferred from generation to generation.  Generally in the form of businesses, resources (oil/diamonds/etc), entertainment (recording industry/film/television/etc), or simply royalty.  All inflation does is allow the bankers to help the irresponsible politicians keep their frivelous spending habits without having to take out loans.   The wealth distribution and divide between rich and poor would remain the same with or without inflation.  So not sure what the OP's point is.  

inb4 Winklevoss

[medUSA]

80 richest people on the planet have the same wealth as the poorest 50%

This is not news. Inequality is something we all hate to see, but no one has a solution. Repeating that again and again is not going to help. Don't compare you self to the wealthiest, just do your best and enjoy what you have (rich or poor).

[expert4knowledge]

The distribution of wealth has little to do with inflation, if any.  The top wealthiest individuals on this planet all come from old family money which has been kept and transferred from generation to generation.  Generally in the form of businesses, resources (oil/diamonds/etc), entertainment (recording industry/film/television/etc), or simply royalty.  All inflation does is allow the bankers to help the irresponsible politicians keep their frivelous spending habits without having to take out loans.   The wealth distribution and divide between rich and poor would remain the same with or without inflation.  So not sure what the OP's point is.  

inb4 Winklevoss

But if you look at the current richest people you see that they were entrepreneurs who became rich in recent decades or years, people such as mark zuckerberg, Bil Gates and even the first bitcoin developers. The problem are bankers and people who have usually much money and some financial companies in us.

[TaunSew]

The distribution of wealth has little to do with inflation, if any.  The top wealthiest individuals on this planet all come from old family money which has been kept and transferred from generation to generation.  Generally in the form of businesses, resources (oil/diamonds/etc), entertainment (recording industry/film/television/etc), or simply royalty.  All inflation does is allow the bankers to help the irresponsible politicians keep their frivelous spending habits without having to take out loans.   The wealth distribution and divide between rich and poor would remain the same with or without inflation.  So not sure what the OP's point is.  

inb4 Winklevoss

But if you look at the current richest people you see that they were entrepreneurs who became rich in recent decades or years, people such as mark zuckerberg, Bil Gates and even the first bitcoin developers. The problem are bankers and people who have usually much money and some financial companies in us.

Bill Gates came from a generational banking family and he was busted driving a Porsche without a license at age 21.  How many 21 year olds do you know have a porsche at their age?  If Bill Gates didn't found Microsoft I'm sure he would had gone on some gap year, attempted university again and then ended up as a Bank President somewhere.  


If you're going to single out the exceptions then at least research their backgrounds.  Bill Gates even as a teenager was already a member of the 1% and was guaranteed to be a success, unless he developed a mental illness or something, due to family connections.

As well these threads are total bait for selection bias.  Typical college dropout isn't a billionaire, the 1 college dropout who becomes a billionaire there is probably 1 million dropouts who never amounted to anything and died broke.

[flipstyle]

The distribution of wealth has little to do with inflation, if any.  The top wealthiest individuals on this planet all come from old family money which has been kept and transferred from generation to generation.  Generally in the form of businesses, resources (oil/diamonds/etc), entertainment (recording industry/film/television/etc), or simply royalty.  All inflation does is allow the bankers to help the irresponsible politicians keep their frivelous spending habits without having to take out loans.   The wealth distribution and divide between rich and poor would remain the same with or without inflation.  So not sure what the OP's point is.  

inb4 Winklevoss

But if you look at the current richest people you see that they were entrepreneurs who became rich in recent decades or years, people such as mark zuckerberg, Bil Gates and even the first bitcoin developers. The problem are bankers and people who have usually much money and some financial companies in us.

Bill Gates came from a generational banking family and he was busted driving a Porsche without a license at age 21.  How many 21 year olds do you know have a porsche at their age?  If Bill Gates didn't found Microsoft I'm sure he would had gone on some gap year, attempted university again and then ended up as a Bank President somewhere.  


If you're going to single out the exceptions then at least research their backgrounds.  Bill Gates even as a teenager was already a member of the 1% and was guaranteed to be a success, unless he developed a mental illness or something, due to family connections.

As well these threads are total bait for selection bias.  Typical college dropout isn't a billionaire, the 1 college dropout who becomes a billionaire there is probably 1 million dropouts who never amounted to anything and died broke.

Bingo.  Too many many of these 'kids' weren't even around before Bill Gates became 'Bill Gates,' so they have no idea what happened during his rise to fame.  

The rich will continue to get richer...and that certainly holds 100% true for the richest in the world.  Generational money never leaves, especially when they typically hold virtual monopolies in their respective industries.


Zuckerberg?  I'll give you a hint...Jewish.  


expert4knowledge, I'm sorry man, but you don't have any clue as to what you speak on regarding this subject.  Inflation has zero bearing on the wealth divide and how the richest live.  

[cbeast]

This has historically been a temporary short-term problem that finds permanent solutions, at least for the unlucky few. Hopefully, Bitcoin will reverse the trend.

[expert4knowledge]

The distribution of wealth has little to do with inflation, if any.  The top wealthiest individuals on this planet all come from old family money which has been kept and transferred from generation to generation.  Generally in the form of businesses, resources (oil/diamonds/etc), entertainment (recording industry/film/television/etc), or simply royalty.  All inflation does is allow the bankers to help the irresponsible politicians keep their frivelous spending habits without having to take out loans.   The wealth distribution and divide between rich and poor would remain the same with or without inflation.  So not sure what the OP's point is.  

inb4 Winklevoss

But if you look at the current richest people you see that they were entrepreneurs who became rich in recent decades or years, people such as mark zuckerberg, Bil Gates and even the first bitcoin developers. The problem are bankers and people who have usually much money and some financial companies in us.

Bill Gates came from a generational banking family and he was busted driving a Porsche without a license at age 21.  How many 21 year olds do you know have a porsche at their age?  If Bill Gates didn't found Microsoft I'm sure he would had gone on some gap year, attempted university again and then ended up as a Bank President somewhere.  


If you're going to single out the exceptions then at least research their backgrounds.  Bill Gates even as a teenager was already a member of the 1% and was guaranteed to be a success, unless he developed a mental illness or something, due to family connections.

As well these threads are total bait for selection bias.  Typical college dropout isn't a billionaire, the 1 college dropout who becomes a billionaire there is probably 1 million dropouts who never amounted to anything and died broke.

I knew he was from an above normal family but I am pretty sure his wealth is incomparable compared to what his families had. Also there are many billionaires in IT industry like Piere Omidyar, ebay founder or....
But anyway thanks for info

[manselr]

Crashes like this are good for Bitcoin, so rich bastards lose their money on panic sells and new poor people can start adquiring Bitcoin and reasonable prices for a longer period before price goes too high.
Yes, its unfair as life itself but at least with Bitcoin there are no rothchilds printing magic money.

[Room101]

Almost everyone on this forum is in the top 5%. It's easy to look up and say, "It's not fair". Nobody looks down and says the same. The world can't support 7 billion people with a TV and air-conditioning. Before you expect the top 1% (only about 1.5 million dollars by the way) to give some up, how about you give your wealth to somebody in Africa?

[cbeast]

This will be the first time in human history that family can leave wealth behind to progeny that can't be confiscated. New family bonds can form around protecting the future for generations to come.

[botany]

This will be the first time in human history that family can leave wealth behind to progeny that can't be confiscated. New family bonds can form around protecting the future for generations to come.

I think a significant number of bitcoins will be lost, when people die unexpectedly. Planning to transfer digital assets is not high on the priority list of many people.

[freedomno1]

Almost everyone on this forum is in the top 5%. It's easy to look up and say, "It's not fair". Nobody looks down and says the same. The world can't support 7 billion people with a TV and air-conditioning. Before you expect the top 1% (only about 1.5 million dollars by the way) to give some up, how about you give your wealth to somebody in Africa?

Well just to put this into another context
https://www.youtube.com/watch?v=W4nSjPdT788

[manselr]

Almost everyone on this forum is in the top 5%. It's easy to look up and say, "It's not fair". Nobody looks down and says the same. The world can't support 7 billion people with a TV and air-conditioning. Before you expect the top 1% (only about 1.5 million dollars by the way) to give some up, how about you give your wealth to somebody in Africa?

When you are surrounded by people that lives like you you become accustomed and you want more. I feel bored and poor compared to Cristiano Ronaldo for example.

[Febo]

Almost everyone on this forum is in the top 5%. It's easy to look up and say, "It's not fair". Nobody looks down and says the same. The world can't support 7 billion people with a TV and air-conditioning. Before you expect the top 1% (only about 1.5 million dollars by the way) to give some up, how about you give your wealth to somebody in Africa?

Do you have their bit coin valet address?

[erre]

Make of this what you will.

• By 2016, the top 1% of the world’s population will have more wealth than the other 99%
• 80 richest people on the planet have the same wealth as the poorest 50% (3.5 billion)
• The poorest 80% own just 5.5% of the world's wealth
• The richest 80 doubled their worth in cash terms between 2009 and 2014
• More than a third of the 1,645 billionaires listed by Forbes inherited some or all of their riches
• Britain’s 100 richest had the same wealth as 30% of UK households
• The financial sector contributed $571 million to various campaigns during 2012 U.S. presidential elections
• In 2013, financial and insurance lobbies gave $550 million to policymakers in Washington and Brussels

ps: Before anyone blindly starts proselytizing about Bitoin, keep in mind the same pattern has/is emerging in crypto as well.
Less it be forgotten, the top 100 addresses own 20% (2,875,298 BTCs) of all BTCs mined thus far (13,736,250, as of block #339,450).

This is a very big problem indeed, but bitcoin won't resolve it at all.

[Bit_Happy]

"80 richest people on the planet have the same wealth as the poorest 50% (3.5 billion)"
^^^
$3.5 Billion combined for the richest 80 people, seriously?
Don't you want to check that one before posting it?

[erre]

Effectively, your numbers seems to be a bit odd