Dear Jeff Bezos, what are you going to do with all that money?

Economist Jeffrey Sachs discusses how the megarich can help millions of children by donating 1 percent of their wealth.

  • In 2006 there were about 700 billionaires with a total net worth of about $3 trillion. Today there are 2,208 billionaires with a total net worth of $9.1 trillion. A tiny fraction of that wealth could keep millions of kids alive and in school.
  • Jeffrey Sachs, who argues that the world economy isn't "exactly fair," proposes the ultra rich give 1 percent of their collective wealth — about $100 billion — to help meet everyone's basic needs. "What I know — as an economist that has worked all over the world, including in the poorest places in the world— [is that] little bits can save lives and make futures for the children of this world..."
  • If plutocrats don't give voluntarily, Sachs recommends putting an SDG levy, a Sustainable Development Goals levy, on 1 percent of their collective wealth. "We're going to get this job done. We're going to get every child healthcare. We're going to get every child into school."
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