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Walmart's Walton family earns $4 million per hour, employees get a paltry $11

The Bloomberg report adds that the fortune of the Waltons has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families.

Walmart's Walton family earns $4 million per hour, employees get a paltry $11

New Delhi: The earning disparity between Walmart owners and its employees are mind-boggling, as per a Bloomberg report.

The contrast is so huge that  Walmart's Walton family earns $4 million per hour while employees get a paltry $11 in comparison.

“$70,000 per minute, $4 million per hour, $100 million per day. That’s how quickly the fortune of the Waltons,” a Bloomberg report said.

The report adds that the fortune of the Waltons has “swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families”.

Bloomberg, however says that the wide earning gap between the rich and the poor is not limited to US only.

“America’s richest 0.1 per cent today control more wealth than at any time since 1929...Worldwide, the 25 richest families now control almost $1.4 trillion in wealth, up 24 per cent from last year,” Bloomberg said.

The brazen wealth gap between rich and the poor has widely been reported from time to time, underlying the anger and frustration of the marginalised class.

In its latest report, released in January this year, international rights group Oxfam had said that the global billionaires' fortunes rose by 12 percent or USD 2.5 billion a day in 2018, whereas the poorest half of the world's population saw their wealth decline by 11 percent

In its annual study released before the start of the five-day World Economic Forum (WEF) Annual Meeting in 2018, Oxfam said that the “number of billionaires has almost doubled since the financial crisis, with a new billionaire created every two days between 2017 and 2018.”