Peter, yes this is a problem and likely a ticking time bomb. I was struck by this sentence “Just 42 people own the same amount of wealth as the poorest 50 percent worldwide”.
It is wonderful that billionaires give to causes they deem to be good. However, I often wonder if the money could be devided up in a manner that is better for mankind. I mean, it is a heavy burdon on one individual to make these impactful decisions.
Personally, I prefer to contribute to a cause, and know that some of it leaks away, than using the leaks or better waste, ss an excese, not to give at all.
Also, It is probably good, that I am not a billionaire, as I would spend it on Morgans... or even buy MMC.
Cheers,
Bert
