Human Wrongs Watch
– The latest November 2019 UBS/PwC Billionaires Reportcounted 2,101 billionaires globally, or 589 more than five years before. Earlier, Farhad Manjoo had seriously recommended, ‘Abolish Billionaires’, presenting a moral case against the super-rich as they have and get far, far more than what they might reasonably claim to deserve.

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Manjoo also argues that unless billionaires’ economic and political power is cut, and their legitimacy cast in doubt, they will continue to abuse power to further augment their fortunes and influence, in ways detrimental to the economic, social and public good.
Benign billionaires?
In defence of billionaires, Josef Stadler, head of ultra-high net worth at UBS Global Wealth Management, argued that their wealth “has also translated into their philanthropy, as billionaires seek new ways to engineer far-reaching environmental and social change.”


