If Bill Gates spent $1 million a day, he would blow his fortune in 218 years
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
You are now subscribed
Your newsletter sign-up was successful
I'm fairly certain it would take just one particularly vigorous shopping spree to spend away my "fortune." But it would take Bill Gates a lot more than that.
According to new research from Oxfam, Gates would have to spend $1 million a day for 218 years in order to get rid of every last penny of his wealth (approximately $79 billion). It would take Carlos Slim, the world's richest man, even longer: 220 years if he spent at the same rate.
Oxfam's report uses these numbers to make a larger point about economic inequality, which it says has reached "extreme levels." Since the recession, the number of billionaires has more than doubled, and the income gap is only widening: The 85 richest people in the world own the same amount of wealth as the poorest half of humanity.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
For more interesting stats on the research, head to The Guardian.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Samantha Rollins is TheWeek.com's news editor. She has previously worked for The New York Times and TIME and is a graduate of Northwestern University's Medill School of Journalism.
-
‘The West needs people’Instant Opinion Opinion, comment and editorials of the day
-
Filing statuses: What they are and how to choose one for your taxesThe Explainer Your status will determine how much you pay, plus the tax credits and deductions you can claim
-
Nan Goldin: The Ballad of Sexual Dependency – an ‘engrossing’ exhibitionThe Week Recommends All 126 images from the American photographer’s ‘influential’ photobook have come to the UK for the first time
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
