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https://www.washingtonpost.com/world/2024/01/16/oxfam-wealth-inequality-davos/ The world could have its first trillionaire within 10 years if current inequality trends continue, antipoverty group Oxfam International said in a report published Monday, reflecting the increasing gap between the world’s wealthy and poor. The report, titled “Inequality Inc.,” was released the same day as the start of the annual World Economic Forum in Davos, Switzerland. Its authors say the world is living through a “decade of division,” pointing out that since 2019, the world’s five wealthiest people have almost doubled their wealth, while nearly 5 billion people have become poorer. Using data from Forbes, the report’s authors calculated that the combined wealth of those five men — Tesla CEO Elon Musk; Bernard Arnault and his family, who own luxury goods group LVMH; Amazon founder Jeff Bezos; Oracle founder Larry Ellison; and investor Warren Buffett — increased from $453 billion in 2019 to $869 billion as of November 2023. (Bezos owns The Washington Post.) In their methodology, the authors wrote that if that growth trajectory continues, Musk — the world’s richest person, according to Forbes — is projected to become a trillionaire in fewer than nine years, though they noted that the estimate is subject to uncertainty. “If each of the five wealthiest men were to spend a million dollars daily, they would take 476 years to exhaust their combined wealth,” Oxfam’s authors wrote. Representatives for these individuals could not immediately be reached late Monday. But, Oxfam said, for the world’s poorest people — who are more likely to be women and marginalized groups in every society — “daily life has become more brutal” since 2019. It pointed to the effects of the coronavirus pandemic, as well as “escalating conflict, the acceleration of the climate crisis and surging costs of living.” The report also said that globally, men own $105 trillion more than women — a difference in wealth equivalent to more than four times the size of the U.S. economy. Oxfam urged governments worldwide to adopt caps on CEO salaries, along with permanent taxes on wealth and excess profits.- 24 replies
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Vegetarian breakfast, 2 dishes $4
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http://www.plushasia.com/media_photo/23275 Singapore's million-dollar club grows Singapore - More people made it to the millionaires club last year, with 4,220 taxpayers having assessable income of more than $1 million each. Their combined income came to $8.06 billion, according to the annual report of the Inland Revenue Authority of Singapore (Iras) released on Thursday. They forked out $1.49 billion in income tax. In 2011, in comparison, there were 3,870 people in this group and they earned $7.45 billion. These could be Singaporeans, permanent residents or foreigners. A further 12,921 people earned between $500,000 and $1 million each last year, up from 11,092 people in 2011. Iras collected 7.6 per cent more cash in its latest financial year, as the economy grew moderately and the buoyant property market yielded more in stamp duty collection. Total taxes collected came to $41.4 billion for the 12 months to March 31, up from $38.4 billion in the year before, said The money made up 74.1 per cent of all operating revenue for the Government. The remainder was collected by other agencies for other types of payments - such as certificates of entitlement and Electronic Road Pricing. Iras' collections include corporate taxes, individual income taxes, goods and services tax (GST), stamp duties, property tax and betting taxes. For the financial year, corporate income tax grew 5.8 per cent to $12.8 billion, owing to improved company profits. Individual income tax collection grew by 12.2 per cent to $7.7 billion, due to higher salaries and the cessation of one-off personal income tax rebates given earlier for income earned in 2011. GST collection rose by 4 per cent to $9 billion, in line with the moderate growth in private consumption expenditure. Stamp duty collections jumped 35.7 per cent to $4.3 billion. The rise was due to the introduction of the additional buyer's stamp duty in December 2011 - intended to cool the property market - and more property transactions. Property tax collection fell by 3.1 per cent to $3.8 billion, due to an earlier change in some policies that affected the timing of collection of the taxes. The changes had led to more collections in the previous financial year - April 2011 to March last year. Taxes from betting activities dipped by 2.9 per cent to $2.3 billion. This included duties on Singapore Pools bets like 4D, Toto, Big Sweep and sports betting, and levies on the casino operations of the two integrated resorts. Iras also highlighted its high level of tax compliance - essentially, that almost all parties pay their taxes on time. Tax arrears declined to a record low of 0.79 per cent, among the lowest in the world. "Our ongoing efforts to promote a high level of voluntary compliance have resulted in more individuals and businesses filing their tax returns and paying taxes on time," said Dr Tan Kim Siew, Commissioner of Inland Revenue. "On-time filing rates have improved across all tax types." One of the taxpayers who name himself Throttle says "yes this year is a good year, many tables to be cleaned, my income shoot high high." Throttle who reported his annual income for more than has one million singapore dollar has decided to give himself a holiday break to London, UK.
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http://women.asiaone.com/women/people/kim-lim-tycoon-peter-lims-daughter-and-jet-setting-princess wah 22yr old ....
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wah... lucky i peasant richie rich mcfers like t2 would probably kpkb about giving back 10 whole chickens 😱😅 https://www.businesstimes.com.sg/brunch/in-the-line-of-duty-on-wealth-taxes-singapore-must-decide-what-it-most-wants-to-achieve-and
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http://www.straitstimes.com/world/scientists-find-rich-and-poor-are-biologically-different Scientists find rich and poor are 'biologically different' A Cambodian woman offers money to beggars in Phnom Penh.PHOTO: AFP PUBLISHEDDEC 26, 2015, 4:16 AM SGT Hormones that are out-of-balance in poor and uneducated people may explain why they age faster and are more vulnerable to disease than their more affluent peers, a new study suggests. It has long been known that less affluent folk die earlier and are "biologically older" than the rich, with those in the most affluent areas expected to live around eight years longer than those in the poorest regions, according to a report in Britain's Daily Telegraph. Now, researchers at University College London (UCL) may have worked out why. After monitoring a cohort of 1,880 British men and women since 1946, they have discovered that hormones critical to healthy ageing are significantly out of balance in poorer people by the time they reach 60-64. Men with the lowest household income - defined by less than £6,000 (S$12,000) a year - had 10 per cent lower testosterone than men earning £30,000 a year or higher, reported the Telegraph. Low testosterone has been linked to weight gain, loss of muscle, osteoporosis and depression. In contrast, women whose parents were unskilled workers had testosterone levels 15 per cent higher than the daughters of professionals. In women, too much testosterone is linked to early puberty, infertility and polycystic ovaries. Those with the lowest education in both sexes also had depleted levels of insulin-like growth factor (IGF) which has been linked to poor cognitive function and an increased risk of cancer and cardiovascular mortality. Women with no qualifications had 16 per less IGF than women who had degrees. For men the difference was 8 per cent less IGF, the Telegraph reported. Low levels of cortisol, which can lead to heart palpitations, depression, pain and insomnia, was also seen in both men and women with the lowest education. Professor Diana Kuh, of the Medical Research Council’s Unit for Lifelong Health and Ageing at UCL said the hormonal differences showed how societal factors literally "get under the skin" and affect health. “We found that socioeconomic disadvantage across life, based on father’s social class and on the study member’s education, social class and income, was associated with an adverse hormone profile," she said, according to the Telegraph. “These hormones are thought to work together to ensure healthy development and also have many different roles in regulating health in older age. “So our findings suggest that these socioeconomic differences in hormone systems may play a role in explaining social inequalities in health as we age. “Hormones may be affected by exposure across life to stress and adverse events, health problems and obesity, and unhealthy lifestyles such as physical inactivity, poor diet, and smoking.” It is already known that socio-economic status has a major impact on health, with studies showing that being poor is associated with increased risks of cardiovascular, respiratory, rheumatic and psychiatric diseases, low birth weight and infant mortality. Scientists believe psychological stresses of having a less secure future, being bossed around and having lower self-esteem and less access to social support networks cause an increased rate of molecular damage, said the Telegraph. Living in an area of high crime is also thought to accelerate ageing. Dr David Bann, of the Institute of Education at UCL said: “Our study shows that people from a disadvantaged background are biologically different which could explain health inequalities. “These hormone levels change with age, so it could potentially explain difference rates of ageing.” But if the damage is being driven by an out-of-kilter hormone system, it may be possible to fix the disparities through better education and raising the standard of living. Prof Di added: “We are examining the impact of these hormone differences in explaining inequalities in physical and mental functioning in older age. “We are also looking at whether socioeconomic differences in other biological systems could help explain social inequalities in how fast we age. “Our findings provide further evidence of the potentially harmful effects of social disadvantage on health, suggesting that reducing inequalities could have powerful benefits in improving the health of the population and reducing health-care expenditure.” The research, which was based on data from the MRC National Survey of Health and Development was published in the journal Social Science and Medicine, the Telegraph said.
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https://www.straitstimes.com/opinion/in-your-opinion-podcast-does-a-family-of-4-in-spore-really-need-6426-a-month-for-a-basic-standard-of-living-pt-1 In Your Opinion Podcast: Does a family of 4 in S'pore need $6,426 a month for basic living standard? Synopsis: The Straits Times' opinion editor Grace Ho takes a hard look at political and social issues of the day with her expert guests. In this episode, the first of two parts, she looks at whether a family of four in Singapore needs $6,426 a month for a basic standard of living. In the studio to explain the study and its methodology are Associate Professor Teo You Yenn of the School of Social Sciences, Nanyang Technological University; and Dr Ng Kok Hoe, Senior Research Fellow and Head of the Case Study Unit at the Lee Kuan Yew School of Public Policy. Highlights (click/tap above): 00:41: Is there a household budget that captures the lived realities of Singaporeans? What is the Minimum Income Standard? 04:55: Addressing criticisms of the study and its methodology 10:00 How is the Minimum Income Standard applied in the United Kingdom, and how does the UK decide what is a living wage? https://www.straitstimes.com/opinion/thinking-aloud-6426-a-month-for-basic-standard-of-living-study-on-family-budgets-must-be Does a family of 4 really need $6,426 a month for a basic standard of living? It depends It is about what people feel they need to be socially accepted, not just what they can afford For a few years, money at home was tight. I did not go on overseas field trips or to the cinema, and made excuses to skip class gatherings at restaurants. Each missed activity meant one less shared experience and common talking point - and one step closer to feeling as if I did not belong. This is where the minimum income standard (MIS) approach, which relies on public consensus and not just expert opinion, comes in.
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https://www.straitstimes.com/singapore/transport/budget-2022-buyers-of-luxury-cars-to-pay-even-higher-taxes so coming Wednesday COE up or down? 🤣🤣🤣 I think not much impact for above OMV $80,000 cars buyers 😭
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Epic fail...gives advice but at the end still faces such a dilemma..think most business people reads his book and some advices are quite good...but how come he faces such a situation Article Rich Dad, Poor Dad now a bankrupt dad: Best-selling author files for corporate bankruptcy after losing $24m judgement The financial guru behind New York Times bestseller Rich Dad, Poor Dad has filed for bankruptcy on one of his companies after losing a $24 million judgement. This April, Robert Kiyosaki's Rich Global LLC was ordered to pay $23,687,957.21 to the Learning Annex and its founder and chairman, Bill Zanker. Kiyosaki had used the Learning Annex platform to organize several high profile speaking engagements, including a 2002 appearance at Madison Square Garden.....
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The secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history. Branded the Pandora papers, the cache includes 11.9m files from companies hired by wealthy clients to create offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands. They expose the secret offshore affairs of 35 world leaders, including current and former presidents, prime ministers and heads of state. They also shine a light on the secret finances of more than 300 other public officials such as government ministers, judges, mayors and military generals in more than 90 countries. The files include disclosures about major donors to the Conservative party, raising difficult questions for Boris Johnson as his party meets for its annual conference. More than 100 billionaires feature in the leaked data, as well as celebrities, rock stars and business leaders. Many use shell companies to hold luxury items such as property and yachts, as well as incognito bank accounts. There is even art ranging from looted Cambodian antiquities to paintings by Picasso and murals by Banksy. The Pandora papers reveal the inner workings of what is a shadow financial world, providing a rare window into the hidden operations of a global offshore economy that enables some of the world’s richest people to hide their wealth and in some cases pay little or no tax.
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Money can't buy class. So old still tie the hair like that and those gold chains.😖 https://www.straitstimes.com/singapore/courts-crime/talk-to-rich-people-nicely-youre-a-poor-girl-2-women-fined-3k-each-for
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Read about the rich R.R Park today ( To be completed in 2020 ) Eager to check out after years of walks and trekking in Venus Drive, Treetops trail along MacRitchie Reservoir Link, Bt Timah, Diary Farm, Lower Pierce / Upp Pierce, Hort Park, Mt. Faber, Yishun Dam and Coney Island etc, kinda wanting to explore new terrain. 67 hectare of hiking trail and less disturbance to wildlife and surrounding greenery with elevated walkway plus a host of wildlife such as Malayan Colugo - a glider from tree to tree, Flying squirrel, pangolin- endangered animal, Palm civet cats also known as " Musang ", Coral snake, a venomous snake, Species of malayan butterflies and other migratory birds can be sighted only from Sept-Novenber annually, not forgetting Fireflies. Yes fireflies . . . i'm ready to explore more
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Since this movie is coming along and I think there is a lot of Rich daddies here, please share some juicy stories here for our entertainment please?!
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For your reading pleasure http://www.moneysmart.sg/money-talks/thing...ld-stop-saying/ 4 Things Rich People Should Stop Saying By Ryan Ong in Featured Post, Money Talks | May 10, 2013 11 Comments I have nothing against rich people. Hell, I
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The 11-storey data centre is 170,000 sqm and will “support hundreds of jobs”, says the social media giant. Social media giant Facebook on Thursday (Sep 6) announced it will pour in more than S$1.4 billion to construct its first data centre in Asia in Singapore. The new facility, located at Tanjong Kling (formerly known as Data Centre Park) in the west of Singapore, will span 170,000 sq m and will “support hundreds of jobs”, the company said in its press release, adding it will form part of its growing presence in Singapore and across the region.
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This Singaporean doesn't need to buy anything! https://www.facebook.com/nasdaily/videos/454647218384501/?t=65 I am most interested in his watch.
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http://www.tnp.sg/news/singapore/middle-income-family-hopes-more-help-budget-2018 Really not enough?
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...provided you are alive. The man who has this money has passed away at a relatively young age, but his final "home" (coffin) is no bigger than the beggar on the street who has passed on. http://www.channelnewsasia.com/news/singapore/cdl-deputy-chairman-kwek/2265690.html Change your perspective of life. Be content with what you have. There is no end to the paper chase. Don't make the mistake of spending your youth chasing after wealth & glamour.... Only to spend your retirement years chasing after health.... You will be in no capacity to enjoy your wealth !
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Not sure if any of you guys have seen this, but I find it damn stupid, plus this guy is actually my neighbour... sigh... Now I know I really live in an estate filled with idiotic people, probably me included. Sauce: https://www.facebook.com/photo.php?fbid=10153694088972866&set=pcb.10153694089247866&type=3&theater
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SINGAPORE — Ferrari is Singapore’s top exotic car maker, at least according to 2014’s sales figures. Can the new 488 GTB pictured above keep the Italian brand ahead of its rivals? The new car is the Maranello-based carmaker’s follow-up to the 458 Italia. It has a turbo engine that hurls it to 200km/h in just 8.3 seconds. Ferrari says it comfortably exceeds 330km/h. That level of performance makes the 488 GTB the benchmark in its class, says Ferrari. MORE: Here’s another turbo Ferrari In Singapore, at least, Ferrari seems to set the mark when it comes to sales. The brand put 31 new cars in the road here in 2014. That’s far ahead of McLaren (which sold 11 cars in Singapore last year) and its more traditional rival, Lamborghini (with 10 cars sold). Will Ferrari’s switch to turbo technology power the brand even further ahead? source :
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I love L.A.
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If she is so rich (as claimed), shouldn't she just pay up and shut up? Anyway, I find that she can't even speak properly... http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/arrogant-passenger-boasts-about-wealth-and-degrades-cabby-after-vomiting-in-cab
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I had a former colleague married to this guy, poly grad, earned 2300 a month as an asst engineer, now he became agent and suddenly drive big car and talk big while me a uni grad, drive a small car and very humble, so property agents very rich? since I am a poor man and want to be rich, should I quit my job and be a property agent???
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is this legal?
