At the start of this year (February 06, 2019), The New York Times published Farhad Manjoo's passionate opinion piece, "Abolish Billionaires". The latest 2019 UBS/PwC Billionaires Report, released on November 08, counted 2,101 billionaires globally, or 589 more than five years ago.
Manjoo argues that billionaires have more than what anyone needs even for a most excessive and lavish life style. "It's far more than anyone might reasonably claim to deserve, however much he believes he has contributed to society." This presents a moral case against the existence of billionaires, "with their current globe-swallowing power, garnering this level of adulation, while the rest of the economy scrapes by."
Manjoo, a tech journalist, also believes, "banishing billionaires – seeking to cut their economic power, working to reduce their political power and attempting to question their social status - is a pithy, perfectly encapsulated vision for surviving the digital future."
I would argue, billionaires are an existential threat to humanity.
CLIMATE CRISIS: According to an Oxfam report, the richest 10 per cent of people produce half of earth's climate-harming fossil-fuel emissions, while... see more