If Bill Gates spent $1 million a day, he would blow his fortune in 218 years
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.
Subscribe to 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.
Sign up for Today's Best Articles in your inbox
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.
-
How to earn extra cash for Christmas
The Explainer The holiday season can be expensive but there are ways to bolster your festive finances
By Marc Shoffman, The Week UK Published
-
Christmas gifts for children: the top toys of the year
The Week Recommends The most sought-after kids' presents revealed
By Tess Foley-Cox Published
-
Should Line of Duty return?
Talking Point Adrian Dunbar's hint about a series reboot has some critics worried
By Tess Foley-Cox Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
By Justin Klawans Published
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
By Catherine Garcia Published
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
By Catherine Garcia Published
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
By Catherine Garcia Published
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read
By Justin Klawans Published