Now here is something an Economic Freedom Fighter like Julius Malema would love – the Robiin Hood Index*! In layman words, the Robin Hood Index is the proportion of money needed to be transferred from the rich to the poor to achieve equality (in a country).
The bad news, for poor old Julius, is that there are either not enough billionaires in South Africa to donate to the running of the country, or – that the government is just spending (or wasting) money too fast.
In fact, the daily running cost of South Africa is $333.5 million (approximately R3.98 billion). The country’s richest man, Johann Rupert, would not be able to keep the country running for one month before he is completely bankrupt – and presumably the country as well.
The elite group of global billionaires were worth a combined total of $9.1 trillion, up 18% from 2017, with an average net worth of $4.1 billion each. After Bezos, former number one, Bill Gates, ranked second at $90 billion, followed by famous investor Warren Buffet at $84 billion. Bernard Arnault, with a fortune of $72 billion, reclaimed the title of richest European for the first time since 2012.