Ah, how the rich get richer. According to a study by Oxfam International, Bill Gates is on pace to become the world’s first trillionaire within the next 25 years. That trillion… like, with a T. The Microsoft founder is currently 61 years old, meaning he’d reach this impressive plateau before the age of 86.
Here’s the breakdown: Gates is currently worth over $84 Billion. That’s not too shabby, but a far cry from a trillion. However, the economy favors the rich, and if Gates can let his money grow at the average rate that the ultra-rich have been enjoying (11 percent since 2009), then he’ll reach the 12 zeroes mark on schedule—again, according to Oxfam.
The report talks about the “very design of our economies and the principles of our economics have taken us to this extreme, unsustainable and unjust point. Our economy must stop excessively rewarding those at the top and start working for all people.” To put that into numbers, the world’s eight richest billionaires have as much money as the bottom 3.6 billion people of the global population. Something ain’t right there.
Then again, a Forbes.com post from last week argues that something ain’t right with the report—namely, that it fudges the math and ignores some crucial laws of economics. And of course Bill Gates dedicates a tremendous amount of money to charitable causes, so he’s not the bad guy in this story. He’s just the really, really, really rich guy.
Check out some of the incredible work that the Gates Foundation does: