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Could Billionaires Use Their Wealth to Solve the World’s Problems?

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Could billionaires solve the world’s problems

Many people imagine that being fabulously wealthy means living a life of excess and grandeur, buying luxury homes, cars, and traveling the world. While this may be how many of the world’s richest people spend their cash, philanthropic billionaires like Bill Gates and Warren Buffet donate over half of their incomes to causes. But just how much impact can their fortunes have on society? Could billionaires solve the world’s problems?

Many of the biggest issues faced today are simply too large and complex for one person, or even group, to solve on their own. No single one person can change the course of climate change or world hunger, for example.

But could the 2,208 billionaires solve the world’s problems together? Or at least, some of them? Could they eradicate issues like credit card debt, homelessness or the rising cost of living? While money can’t buy happiness, the very wealthy may have the capital to spread just a little to someone else.

Could Billionaires Solve the World’s Problems?

Self Lender did the math to see which problems the world’s billionaires could solve if they got together. With an average net worth of $4.1 billion each, the top 500 billionaires have a combined net worth of $5.38 trillion. And there are some major problems that this wealth could solve, including wiping out credit card debt, solving homelessness, and granting healthcare to all. Check it out:

could-billionaires-end-societys-biggest-challenges-full

It’s pretty clear that a lot of money goes a long way. Whether or not the majority of the world’s billionaires feel inclined to spend their wealth on others in another issue entirely.

Featured image from Shutterstock.

Christina is Editor-in-Chief at MoneyMakers. A B2B writer, MBA, fintech and crypto reporter with a fascination for technology and a passion for starting interesting conversations. When not at her computer you can find her surfing a wave or sipping on wine. Sometimes, at the same time.

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