Thursday, December 25, 2008

Will Billionaires Save the World?

Will President Bush move to Haiti and minister to the poor, January 21, 2009? Will Wall Street repent and give half their earnings to hard-working, tax-paying Americans? If history is any indication, the answer is, not a chance.

Nevertheless, there is a first time for everything.

Of the world's approximately six-billion residents, one in every four lives on less than a $1 per day and one in every 850 is a millionaire. Of those seven-million millionaires, one in every 134 has assets of over $30 million and of those 152,000 with assets over $30 million, one in every 100 is a billionaire.

These statistics are not likely to change any time soon, however, Matthew Bishop, author of Philanthrocapitalism (How the Rich Can Save the World) seems to think otherwise. Forbes.com interviewed him regarding How to be a Good Billionaire.

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