The massive imbalance of wealth in the world is no secret. In fact, it’s reported that over half of the entire world’s wealth is possessed by 1% of the population.

The Shocking Number Of Billionaires In The World

A million dollars used to seem like a lot of money, but now, it’s chump change to some of the world’s richest people.

There are roughly 2,043 billionaires in the world, and that number has been growing at a faster rate than ever before in history. The money possessed by the elite could not only end poverty multiple times over, but it could end inequality in a number of categories like health care, famine, and unsafe living conditions.

The Richest Of Them All

The battle for the “World’s Richest” title is on-going, but it’s Jeff Bezos, CEO of Amazon, that currently holds the top spot. His net worth is roughly $132 billion at the moment. Bill Gates isn’t too far behind at $92 billion, and he’s making consistent efforts to give as much money away as he can. The total money that he’s gifted to charities is currently estimated at $50 billion.

The Answer To Wealth Inequality

Even the rich are concerned about such disparity in income between the rich and the poor. It means that the system is seriously flawed and in need of a solution.

Ideas that have been floated include limitations to shareholder and executive returns, something that only the government can do. Another option, albeit extremely unpopular with the wealthy, is to raise taxes on the wealthy and make it more difficult to avoid paying taxes.

Along with raising the standard wage and eliminating pay discrepancies between genders, these ideas would be a good start to bridging the canyon that is income inequality.