Billionaires increasing Income Inequality is bad but Women Billionaires are Not

Posted by PITHOCRATES - January 26th, 2014

Week in Review

According to the left rich people in corporations are bad.  They’re evil incarnate.  That’s why they hated 2012 presidential candidate Mitt Romney so much.  He was a rich guy in the corporate world.  Who screw the people to enrich themselves.  Making rich people richer.  And poor people poorer.  Which is the new theme President Obama is using these days.  Income inequality.  Which just isn’t right.  Rich people having so much more than poor people.  Especially those billionaires in corporations.  They’re the worst.  Money-grubbing parasites.  These billionaires threaten human progress (see 85 people have as much money as half the world by Li Anne Wong, CNBC, posted 1/20/2014 on MSN Money).

The combined wealth of the world’s richest 85 people is now equivalent to that owned by half of the world’s population — or 3.5 billion of the poorest people — according to a new report from Oxfam.

In a report titled “Working for the Few” released Monday, the global aid and development organization detailed the extent of global economic inequality created by the rapidly increasing wealth of the richest, warning of the major risks it poses to “human progress.”

According to the report, 210 people have become billionaires in the past year, joining a select group of 1,426 individuals with a combined net worth of $5.4 trillion.

It added that the wealth of the richest one percent of people in the world now amounts to $110 trillion, or 65 times the total wealth of the bottom half of the world’s population.

Imagine that.  There are 1,426 of these money-grubbing parasites.  Who can only make the world a worse place.  According to the left.  For any one person having that much money is just wrong.  Unless, that is, she’s a woman (see Facebook’s Sandberg is now a billionaire by Chris Isidore posted 1/22/2014 on CNN Money).

A record high close for Facebook shares has made Sheryl Sandberg one of the youngest female billionaires ever, according to a ranking from Bloomberg.

Sandberg, who is the company’s chief operating officer, owns 12.3 million shares. That makes her stake worth about $720 million.

In addition, she owns 4.7 million options, which would net her $220.6 million at her exercise price.

She has also received stock awards which have not yet vested, the estimated value of which takes her over the $1 billion mark.

Female billionaires are still relatively rare. Bloomberg’s list of the 200 richest people worldwide shows only 17 who are women.

Forbes reported last year that there were 138 female billionaires worldwide, but that’s out of a total 1,426 billionaires worldwide.

And only 24 of the women billionaires on the Forbes list earned their wealth themselves; most inherited a significant portion of their fortune.

Not a bad word in this article about this billionaire.  For when a woman becomes a billionaire it is reason to celebrate.  For shattering yet another glass ceiling.  Not to lament that there is another good for nothing money-grubbing billionaire in the world today.  Who will only make that income inequality worse.  Funny how that works.

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