Lebanese Carlos Slim Helú is one of eight billionaires whose combined wealth equates to that of 3.6 billion people who make up the world's poorest half, according to Oxfam's latest report, An economy for the 99 percent.
The eight billionaires are worth $426 billion combined. The 3.6 billion poorest people in the world collectively own $409 billion.
Carlos Slim Helú, whose parents are of Lebanese descent, ranks No. 4 on the Forbes' billionaire list, which was used as the basis of the Oxfam report.
Microsoft’s Bill Gates came in at No. 1 followed by Inditex founder Amancio Ortega (No. 2), Chairman and CEO of Berkshire Hathaway Warren Buffett (No. 3) , Amazon's Jeff Bezos (No. 5), Facebook’s Mark Zuckerberg (No. 6), Oracle’s Larry Ellison (No.7) and former New York City mayor Michael Bloomberg (No. 8).
“It is obscene for so much wealth to be held in the hands of just eight men, particularly when one in nine people in the world go to bed hungry every night,” said Jim Clarke, Oxfam Ireland chief executive.
The report also reveals that the wealthiest 1 percent of the population together own more than the remaining 99 percent combined.
“A fundamental change in the way we manage our economies is required so they benefit everyone, not just a fortunate few. We need a global economy for the 99 per cent, not just the 1 percent.”
"The richest are accumulating wealth at such an astonishing rate that the world could see its first trillionaire in just 25 years," the report says.
It is no longer a far-fetched idea that the rich are getting richer. It's the unfortunate truth that has left the poor even poorer.
How wealthy is Carlos Slim Helú?
Helú, Chairman & CEO of Telmex, América Móvil, Samsung Mexico and Grupo Carso has been among the world's wealthiest individuals for years now.
In 2008, Forbes ranked Slim as the world's second-richest person, right after Warren Buffet.
During the years between 2010 and 2013, Slim was named the world's wealthiest person in the world, with an estimated net worth of $73 billion in 2013.
However, Helú's net worth dropped by nearly $5 billion in just four days, following Donald Trump's presidential election.
Today, Slim's net-worth averages to about $50 billion.