Whilst we might focus on pop stars and sportspeople like footballers, corporate executives are included in this group. Remember the days when stockbrokers drove round in Porches and quaffed champagne in clubs after work. They flaunted their wealth in front of the poor and boasted of the excessive bonuses they received.
Half of the world's net wealth belongs to the top 1% of the population.
The top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth.
The top 30% of adults hold 97% of the total wealth.
I read this morning that investors have taken the issue of Elon Musk's 56 billion dollar pay package to court. The court decided in favour of the investors. It is said that Musk is worth 210.2 billion dollars that makes him the second richest person in the world behind Bernard Arnault.
Does anybody really need that much wealth?