Dangote, 84 Others Own Almost the Whole World

Aliko Dangote, the 43rd richest man in the world and Africa’s richest along with 84 others wealthiest men on earth world, own more wealth than the 3 billion poorest people combined.

This is coming as Bill Gates, the world’s richest man, has predicted that poverty will vanish by 2035.

But an Oxfam report on global inequality said that the stupendous wealth of the 85 richest men in the world means that less than 100 individuals hold more wealth than the bottom half of the entire world population.

The rich are getting richer in 24 out of the 26 countries in the study, but nowhere more so than the United States.

“It is staggering that in the 21st century, half of the world’s population own no more than a tiny elite whose numbers could all sit comfortably in a single train carriage,” Winnie Byanyima, Oxfam’s executive director, told the L.A. Times.

Elsewhere, the world’s richest man, said  that, “The belief that the world can’t solve extreme poverty and disease isn’t just mistaken. It is harmful.”

Gates’ arguments hold major significance because his foundation is forcefully dismissing common notions that poverty is unsolvable and foreign aid is improvident.

Gates outlined three common myths in the global poverty battle, which he argued hampers development for poverty-ridden countries: the myth that poor countries are doomed to stay poor, the myth that foreign aid is a big waste and the myth that saving lives leads to over-population.

Gates argues that these myths create a poisonous mindset.

“We hear these myths raised at international conferences and at social gatherings. We get asked about them by politicians, reporters, students, and CEOs. All three reflect a dim view of the future, one that says the world isn’t improving but staying poor and sick, and getting overcrowded…We’re going to make the opposite case, that the world is getting better, and that in two decades it will be better still.”

Gates added that by 2035, there will be close to no poor countries left in the world. Almost all countries will be lower-middle income or richer.

“Countries will learn from their most productive neighbors and benefit from innovations like new vaccines, better seeds and the digital revolution. Their labor forces, buoyed by expanded education, will attract new investments,” Gates said.