You are here: Home » International » News » Economy
Business Standard

Graphic: What if the world's richest paid for government spending?

The 2018 Robin Hood Index by Bloomberg delves into the subject

Business Standard 

How many days could the government keep running if the richest person of each country was paying for it? The 2018 by Bloomberg delves into the subject.

The index compares the net worth of each country's wealthiest person to his/her government's spending. Following are some countries with various political regimes and expenditure types and the richest individuals of each of these nations. A comparison has been made of their net worth as of end-December 2017 to the daily cost of running each government. 2018 Robin Hood Index The Bloomberg shows how many days the richest person of each country can hypothetically keep the government running Graph

Notes: Billionaire net worth as of end of 2017; Daily cost of running each government was approximated by taking the general government total expenditure divided by 365 days; 2018 GDP and government expenditure were IMF estimates as of October'2017; Sweden's richest person was Ingvar Kamprad, who passed away on 1/27/2018, whose estimated wealth of $52.4 billion could've theoretically kept the Swedish government running for 68 days Sources: Bloomberg, Monetary Fund

First Published: Tue, February 13 2018. 00:29 IST
RECOMMENDED FOR YOU