If you have a ticket to Davos, you probably aren’t a young Latina
Some of the world’s wealthiest, most powerful people are meeting this week at the World Economic Forum in Davos, Switzerland. Unsurprisingly, as the chart above shows, they are disproportionately men from Europe and North America and disproportionately 52 years old or so.
Interestingly, the companies they work for aren’t doing very well, compared to the rest of the stock market. (That’s the chart in the lower left.) Membership in the forum runs more than $70,000, which presumably does not include the round-trip business-class flight to Switzerland. The Economist asks, snidely:
After all the inflated expenses and egos, what has been the fate of the companies that sent delegates at least three times in the past five years? Those 104 firms underperformed both the S&P 500 and MSCI World Index. Time to get back to work.
To be sure, the distribution of wealth and power around the world is much more equitable than it once was, but as Davos shows in microcosm, there are still vast differences. Click below for more data.