Report: In 476 years, Elon Musk and Jeff Bezos' fortune would disappear if they spend $1 million per day

Report: In 476 years, Elon Musk and Jeff Bezos' fortune would disappear if they spend $1 million per day

Report: In 476 years, Elon Musk and Jeff Bezos' fortune would disappear if they spend $1 million per day

According to Oxfam, males own $105 trillion more money than women worldwide. The organization is concerned about the fact that 43 percent of all financial assets worldwide are held by the wealthiest 1% of people in the globe.

According to an Oxfam research, the next ten years may witness the emergence of the world's first trillionaire.

An Oxfam study that was made public earlier this month focused on global inequality and the wealthiest people's increased wealth since 2020. According to the paper named 'Inequality Inc.,' Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Mark Zuckerberg saw a startling increase in their fortune throughout the specified period, with their net worth now standing at $869 billion. It also claims that five billion people are living in poverty despite the wealthiest individuals in the world's wealth increasing.

The Oxfam analysis also uncovered an intriguing fact: it would take the five wealthiest individuals (on average) 476 years to deplete their total fortune if they spent a million dollars a day.

It would take Mr. Musk an astounding 673 years to exhaust his riches, if he were to spend $1 million every day (albeit the exact methodology is not disclosed). Conversely, Jeff Bezos' money would run out in 459 years if he continues to spend at this pace.

According to Oxfam, males own $105 trillion more money than women worldwide. The organization is concerned about the fact that 43 percent of all financial assets worldwide are held by the wealthiest 1% of people in the globe.

According to an Oxfam research, the next ten years may witness the emergence of the world's first trillionaire. According to the organization, it may take an additional 229 years to achieve the UN Sustainable Development Goal of eradicating poverty, which has a 2030 deadline.

With a net worth of $226.6 billion when the information was made public, the CEO of Tesla was the wealthiest person in the world. However, he was deposed earlier this week by Moët Hennessy Louis Vuitton (LVMH) president and chief executive officer Bernard Arnault. The French billionaire and his family's net wealth rose by $23.6 billion to $207.6 billion, according to Forbes.

That surpasses Elon Musk's $204.7 billion net worth, which has decreased by 13 percent and represents a loss of more than $18 billion.