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Gates Can Spend Rs. 6 Cr Daily For 218 Yrs

PUBLISHED BY: SURENDER KUMAR
OCTOBER 31, 2014

   
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Gates Can Spend Rs. 6 Cr Daily For 218 Yrs

 

At a spending rate of Rs. 6 Crore a day, most people would burn their lifetime savings in less than a week. But Bill Gates would take 218 years to spend his Rs. 4, 80, 000 Crore fortune at this rate, says Oxfam. That expense equals three Ferraris a day. At this pace, Carlso Slim, the Mexican tycoon, would take 220 years while Warren Buffet would need 169 years to empty his bank accounts.


When comparing this extreme wealth to those on the other side of the economic spectrum, however, the report found some startling inequalities. Namely, the 85 richest people in the world have a combined net worth equal to the poorest half of the entire global population. But Gates and Buffett aren't looking for ways to blow up their cash.  Rather, both are known for their charitable ways as Gates runs the Bill & Melinda Gates Foundation, which got Rs. 18000 Crore from Buffett alone in 2014. When comparing this extreme wealth to those on the other side of the economic spectrum, however, the report found some startling inequalities. Namely, the 85 richest people in the world have a combined net worth equal to the poorest half of the entire global population.

 

More people than ever can call themselves billionaires these days as their number has more than doubled to 1,645 in 2014, Oxfam reports. And wealth is a gift that keeps on giving — billionaires have an average return of 5.3% on wealth, compared to the 1.95% return rate for lesser mortals. This means Gates earns an approximate Rs. 7 Crore a day from interest alone. However, this extreme wealth compares startlingly with the other extreme. The 85 richest people have a combined net worth equal to the poorest half of the entire global population.



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