Billionaires Are Meeting In Davos To Chat About Rich People Things

Billionaires Are Meeting In Davos To Chat About Rich People Things

about 4 years ago2 mins

Davos. It’s the time of year when investors, politicians, and CEOs alike all flock to Switzerland for the annual World Economic Forum and talk about how expensive their shoes are. And the key theme this year? Sustainability. Should give them plenty to think about as they fly in on their private jets, that…

What does this mean?

Davos is the leading meeting of the world’s most powerful people, as well as an opportunity for headline-grabbing panels, high-value networking, and backroom deals. And with all of finance’s top dogs in one place for the week, investors’ eyes are glued to what they’re saying and doing. These are some of the big issues to look out for…

US-Iran tensions. This will be the US president’s first conference since he ordered the assassination of a top Iranian general, which caused global uncertainty to spike. Investors will be closely watching everything he says to get a better sense of what’s next. Following protests back home, Iran’s skipping the meeting this year – but stocks might still fall if investors get a sense that tensions might rise.

Climate change. The World Economic Forum has picked its top five risks to the world in 2020, and all of them concern the environment. That might be why its chairman has said he wants the big asset managers in attendance to refuse to finance environmentally damaging projects. Environmental concerns are fast becoming a major theme in finance, and Davos could represent the moment words start moving towards action – which could in turn boost sustainable funds.

Inequality*. Davos has a reputation for being a billionaire’s playground. But this year, it seems those billionaires are very* aware of their increasingly unpopular status. One of the founders of populist movement Occupy Wall Street will be in attendance, arguing that too much wealth is concentrated in too few hands. He may find some support: hedge fund manager Ray Dalio is a Davos regular, and he’s been vocal about the coming “paradigm shift” that could lead to mass wealth redistribution.

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