Friday, January 24, 2014

‘Shark Tank’ host Kevin O’Leary on extreme income inequality: ‘It’s fantastic’

An investor who hosts the reality show “Shark Tank” said “it’s fantastic” that the world’s 85 richest people hold as much wealth as its 3.5 billion poorest people.

The international relief organization Oxfam issued a new report this week that found the richest 1 percent in the world controlled about $110 trillion in wealth, or 65 times more than the world’s poorest half.

Venture capitalist and television personality Kevin O’Leary said Monday during an episode of the Canadian Broadcast Company’s “The Land and O’Leary Exchange” that this disparity didn’t bother him at all.

“It’s fantastic, and this is a great thing because it inspires everybody, gets them motivation to look up to the 1 percent and say, ‘I want to become one of those people, I’m going to fight hard to get up to the top,’” O’Leary said.

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