Virgin Group Owner Richard Branson Calls For Greater Global Wealth Distribution
Sir Richard Branson the owner of the world famous Virgin Group while speaking in the Milken Institute’s Mena Summit in Abu Dhabi, said that he called for greater distribution of global wealth by investing in high quality entrepreneurs. He referred to this pertain at the time when trust and capitalism has been breaking all records and being low.
He said that they have to try and do everything so that it can lift up the vast majority of people who have not seen any improvement in the standard of their living. He also urged that more people benefitted from the free markets.
Since the global financial crisis, interest in socialism has increased over the past decade. Many people have been struggling to find wealth and job security because they bear the brunt of the financial systems in the past.
The British businessman also said that socialism was not the answer however, the government authorities should take more appropriate steps in enforcing measure that will enable more people to benefit from the free market systems. Talking about socialism to his audience he said that there is not on country where socialism has worked and said throwing out capitalism would be wrong.
Those who have had the privilege of having wealth it becomes their responsibility to take measures on tackling the great problems that can help in the greater global distribution of wealth. If this is not possible then those who have wealth must have heavy taxes leveled on them.
Sir Branson cited UAE as an example for being a free market state that has achieved success and growth by investing its assets in the strong financial systems, startup, quality entrepreneurs and high growth businesses.
Concluding his address he said pointed out the reason why Dubai and Abu Dhabi has been doing so well. He said that it was because these nations had many entrepreneurs who had made a mark. He said that the companies must find the difference between clean fuel and dirty fuel.