Who owns the wealth of the world

Originally Microsoft's chief software architect, Gates later transitioned to the role of chair in He stepped down from both boards on March 13, In , Gates's two philanthropic organizations—the William H. Through the foundation, he has spent billions to fight polio and malaria. In , alongside Warren Buffett, Bill Gates launched the Giving Pledge, a campaign encouraging rich individuals to commit to donating the majority of their wealth to philanthropic causes.

As Facebook began to be used at other universities, Zuckerberg dropped out of Harvard to focus entirely on his growing business. Facebook is the world's largest social networking service, enabling its users to create a personal profile, connect with friends and family, join or create groups, and much more.

As the website is free to use, most of the company's revenue is generated through advertising. Meta is also host to several other brands, including photo-sharing app Instagram, which it acquired in ; cross-platform mobile messaging service WhatsApp and virtual-reality—headset producer Oculus, both acquired in ; Workplace, its enterprise-connectivity platform; Portal, its line of video-calling devices; and Novi, its digital wallet for the Diem payment system.

Their charity seeks to leverage technology to fix societal ills, such as improving the access and quality of education, reforming both the criminal justice system and the U. The most famous living value investor, Warren Buffett filed his first tax return in at age 14, declaring his earnings from his boyhood paper route. He first bought shares in a textile company called Berkshire Hathaway in , becoming the majority shareholder by He expanded the company to insurance and other investments in Widely known as the "Oracle of Omaha," Buffett made the majority of his fortune through purchasing shares in companies with easy-to-understand business operations.

While many investors have been piling into tech companies, Buffett has opted for a more cautious approach, only buying from well-established companies that are easier to understand, such as IBM and Apple.

He is also a noted Bitcoin skeptic. Outside of investing, Buffett has directed much of his wealth toward philanthropic endeavors.

Buffett launched the Giving Pledge alongside Bill Gates in After dropping out of the University of Chicago in , Larry Ellison moved to California and worked as a computer programmer for several companies over the years. First, in , he was an employee of the electronics company Ampex, where he met future partners Ed Oates and Bob Miner. Additionally, Ellison joined Tesla's board in Dec.

Oracle is the second-largest software company and provides a wide variety of cloud computing programs as well as other software, such as Java and Linux, and the Oracle Exadata computing platform. The business has also grown through the acquisition of several major companies, including human resources management systems provider PeopleSoft in , customer relationship management applications provider Siebel in , enterprise infrastructure software provider BEA Systems in , and hardware-and-software developer Sun Microsystems in Ellison has spent millions in luxury real estate over the last decade, predominantly in California.

He has also donated millions of dollars to charitable causes over the years, particularly to medical research. Like several tech billionaires on this list, Larry Page's claim to fame got its start in a college dorm room. While attending Stanford University in , Page and his friend Sergey Brin came up with the idea of improving data extraction capabilities while accessing the Internet.

The duo devised a new type of search engine technology they dubbed "Backrub," named after its ability to analyze "backing links. In , Google the company expanded by purchasing YouTube, the biggest platform for user-submitted videos. Then, saw the release of the first mobile phone utilizing the Android operating system, which was originally developed by Android Inc.

Page is also a founding investor of Planetary Resources, a space exploration and asteroid-mining company. Originally established in , the company was acquired by blockchain firm ConsenSys in amid funding problems.

He has also shown an interest in "flying car" companies, having invested in both Kitty Hawk and Opener. What makes Google unique, compared to the other companies featured on this list, is that its co-founders are relatively close in terms of total wealth.

In addition to software, Google also deals in a wide variety of electronic devices, including its Pixel smartphones, its Pixelbook computers and tablets, its Nest smart home devices, and its Stadia gaming platform.

However, most will be from China. China is set to see an explosion in "ultra" wealth over the next four years. With so much economic growth poised to benefit the world's wealthiest, levels of inequality look set to worsen both within countries and between them. Outside Asia, North America and Western Europe "the remaining regions of the world will have only a marginal impact on new wealth generation," says the report. With a sluggish vaccination rollout in most developing countries and coronavirus still rife in others, poorer nations are likely to be left out of this pandemic recovery.

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Show people, places and other topics in this story Read articles related to this story See what's popular on TRT World. A picture is worth a thousand words. Evidence of "a flawed and sexist economic system" is everywhere, the report's authors write.

Indeed, Oxfam estimates that the richest twenty-two men in the world hold more wealth than all the women in Africa; that, globally, men possess 50 percent more in wealth than women; and that women and girls account for The study also found that 42 percent of working-age women around the globe exist outside the paid workforce, compared with only 6 percent of men, and that the sixty-seven million domestic workers worldwide — 80 percent of them women — generally lack equal protection in terms of labor laws, minimum wage protections, limits on their work hours, and access to benefits.

It also leaves women and girls time-poor, unable to meet their basic needs, or to participate in social and political activities.