Louise O'Neill: Should billionaires exist?

When individual people have more wealth than the entire GDP of countries, it’s time to acknowledge that we have a serious problem

Why are we applauding billionaires for doing the bare minimum? Picture: Miki Barlok

In 2020, Business Insider reported that of the United States’ 615 billionaires, only seven were Black. Oprah Winfrey was the lone Black woman on that list but last week, it was announced that Rihanna would be joining her, with Forbes estimating her net worth at $1.7 billion.

It’s striking to note that both are self-made Black women who have centred inclusivity and philanthropy at the heart of their respective empires. Not only has Rihanna’s charitable foundation donated millions of dollars to Covid relief over the last year, she has done incredible work in highlighting the surge in domestic violence during the pandemic, creating a grant to fund support in the form of shelters, food, and therapy for victims and their children.