Seamus Coffey: In a world of huge inequality, the rich lists do not tell the full story

While good for headlines, the rich list valuations should not be the object of our outrage, writes Seamus Coffey

Tesla CEO Elon Musk -The World's richest man. Picture: Britta Pedersen-Pool/Getty Images

Timed for publication each January to coincide with the World Economic Forum, the press releases achieve their objectives: media headlines and public attention. 

This year, Oxfam Ireland hit its mark with coverage for its claim that “mirroring this global inequality trend, Ireland’s own nine billionaires saw their fortunes increase by €3.28bn since March — a tenth of which would pay for a Covid-19 vaccine for every person in the Republic of Ireland”.