Wealth gap between richest and poorest is ever wider

It’s not easy for a salaried professional to become super-rich. However, as long as we use what we have to build more, we should be better than the national average. Perhaps that could be a good goal to have. A rat race, perhaps. Would it be easier if we are an entrepreneur instead? Actually, it really depends because many businesses fail and we often hear of just those which succeed.  Be careful with property investment today There are also reports about how the richest few areaways getting richer while the poorest remain poorest. Just look at the salaries and bonuses for top management in many financial institutions and we would get the picture. Especially those from the advanced economies. The struggle for the highest pay and the lowest ones continue. One latest report here. 

Reported in many major medias was a revelation by Oxfam about the richest and the poorest. As per google, this is the description for Oxfam. (Oxfam is an international confederation of charitable organizations focused on the alleviation of global poverty) Oxfam shared that the wealth of just the 8 richest people is equally the poorest 50 percent population of the world. In actual number, that’s 8 person versus 3.6 BILLION people. Full report is here. Last year, I reported about it too.  It’s impossible to keep up with the richest The richest of them all? Microsoft founder Bill Gates is worth $426 billion (RM1,904 billion). Oxfam said that the reasons for this ever increasing divide are rising inequality on aggressive wage restraint, tax dodging and the squeezing of producers by companies, adding that businesses were too focused on delivering ever-higher returns to wealthy owners and top executives.

Yes, I wrote about this much earlier too:  When salary packages for CEOs become way too high The World Economic Forum (WEF) was quoted as saying that this rising inequality will be the biggest risk to the global economy in 2017 and could result in rolling back of globalisation. Oxfam also said that between 1988 and 2011 the incomes of the poorest 10% increased by just $65 (RM291), while the incomes of the richest 1% grew by $11,800 (RM52,746) – 182 times as much. One question, how much income did we increase for ourselves over the past 10 years? Second question, did the increase helped us to save more or spend more? The answer helps us to look back at what has happened and what may happen in the future, for our future. Be reminded that the gap will always be getting wider. Happy following and taking actions.

written on 16 Jan 2017

Next suggested article: Starting young is better than starting later

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