Bill Gates could become the world’s first trillionaire

In our lifetimes, we could see the first trillionaire. And, most likely, that first trillionaire would be Microsoft (NASDAQ: MSFT) co-founder Bill Gates .

That’s according to research by Oxfam, an international network of organizations collectively working to alleviate global poverty. Its recently published report finds that eight billionaires from around the globe have as much money as the 3.6 billion people who make up the poorest half of the world’s population .

The report also finds that, given the exponential growth of existing wealth, the world could have its first trillionaire in the next 25 years, when Gates would be 86.

When Gates left Microsoft in 2006, his net worth was $50 billion, according to Oxfam. By 2016, his wealth had increased to $75 billion, “despite his commendable attempts to give it away through his Foundation,” the report says.

In addition to the charitable work Gates does through his personal foundation, he is one of the founding members of The Giving Pledge, a commitment from some of the richest individuals in the world to give away more than half of their worth.

For the hypothetical analysis, Oxfam researchers apply the rate of growth he has been enjoying, 11 percent per year since 2009, to Gates’ current levels of wealth (over $84 billion, according to Forbes). If his investments keep doing as well as they have been, the 61-year-old Gates could indeed become the world’s first trillionaire.

“In such an environment, if you are already rich, you have to try hard not to keep getting a lot richer,” Oxfam notes.

Source: Yahoo News

Actor, Djimon Honsou, visits Maiduguri to bring attention to malnutrition crisis

 

“I’m a son of the continent [so] it’s my inherent obligation to care for my own people,” he said. “I also came upon an amazing quote which said: ‘We should all be ashamed to die unless we have made some major contribution to human society.’ I’m looking to make a social impact here.”

 

Oxfam, who have been assisting the region since 2014, have observed the evolution of the situation in the Northeast. Although there has been progress made, things remain “fluid”. The army has reclaimed territory from Boko Haram but there are still areas under the group’s control, resulting in an unknown number of people who are trapped.

 

“We don’t know how many there are, we don’t know how hungry they are, we don’t know anything about their situation,” said Kathryn Achilles, Humanitarian Campaign Manager at Oxfam. “The security situation also remains very fluid and quite unpredictable,” Achilles continued. “So even in Maiduguri now we are seeing attempted or actual suicide attacks, a lot of the time horrifically carried out by young children.”

 

“We need to be mindful of the fact that just because people have fled from Boko Haram, it doesn’t mean they’re safe.”

 

As for the staggeringly high estimates of those in need, Achilles said that she suspects the true number of those in need is “slightly higher.”

 

“In any humanitarian crisis you never really have precise numbers,” she said. “It’s a very difficult process especially when you’re working in a place like north-east Nigeria where we don’t have access to everyone that might need our support.”

 

“Debates about whether numbers are true or not can risk delaying our response, and the slower we are to respond the more people can get sick or people die,” she continued.

 

Raising awareness and galvanising the international community are key in mounting an adequate response to the crisis according to Achilles. “This is one of the biggest crises in Africa and yet you talk to people in Nigeria and the rest of the world and it’s barely known,” she said. “It’s barely a blip on the international agenda.”

 

While the government continues to make progress made she said there’s more that can be done. “We need the government to be doing much more in terms of strengthening humanitarian coordination, to really work with us to identify where there are gaps and meet those needs,” she said.

 

The most pressing need however is food. The UN estimates more than 4.4 million people are in urgent need of food assistance. They predict 400,000 children in Borno, Adamawa and Yobe will suffer severe acute malnutrition over the next year if urgent measures aren’t taken.

 

“We need to get enough food into north-east Nigeria to meet the needs,” she said. These people are going to need food assistance of some sort for probably the next year.

 

Government intervention and NGO action aside, ordinary Nigerians also have a pivotal role to play. “It’s very important for the Nigerian people to remember that this is happening to Nigerians,” she said. “Ordinary Nigerians [need to] reach out to the government and demand of them the type of response they’d want if it was happening to them, to their families, their communities, what would they want the government to do?”