Jerome Kerviel is the poorest person in the world. He has a net worth of negative $7 billion. In 2008, he was convicted of causing a loss of 4.9 billion euros ($6.5 billion) at Société Générale, one of France’s largest banks. Kerviel worked for the bank as a trader and lost track of $49 billion of real money that he traded.
The following is an excerpt from Kerviel’s lawyer, David Koubbi: “When the affair exploded and the bank realised what had been happening, by chance, Jerome was at home sick. It was his deputy who took it upon himself to try and remedy the situation… He tried to do so by betting even more on the stock markets, in the hope of recouping at least some of the losses. Unfortunately, it was to no avail.”
Kerviel is not alone in his extreme poverty. According to the World Bank, 2.2 billion people live on less than $1.25 a day. This is about 35% of the population of the entire world.
Kerviel was tracked down and arrested, while he was at home studying for a master’s degree in business. He has been convicted and sentenced to five years in prison with two suspended, and ordered to pay back the $6.4 billion Société Générale claims it lost due to his actions.
At the time of this writing, Kerviel is still in prison and has refused any type of parole. He spends every day reading articles about finance – an ironic twist since he was formerly employed as a trader at one of France’s largest banks.
There is no one definitive answer to this question, as there are many people in the world who live in poverty. However, according to The Borgen Project, a global advocacy organization, the poorest person in the world is likely someone who lives in rural Africa or a developing country in Asia. This is because these regions have the highest levels of poverty and the lowest levels of economic development.
Some other factors that contribute to poverty include a lack of education, poor health care, and a lack of basic needs such as food, clean water, and shelter. In addition, natural disasters and conflict can also lead to increased levels of poverty.
Sadly, many people in the world who live in poverty are just a few dollars away from being considered middle class. In fact, according to The Borgen Project, an estimated 70 percent of the world’s poorest people have access to a mobile phone. With this technology, they can connect with local and global markets so that they can increase their income and move out of poverty.
In addition, governmental policies and individual choices also play a role in decreasing the global levels of poverty. For example, providing people with improved seeds and fertilizer can help them grow more food which will increase their income. In turn, this means that they will have a higher quality of life and be able to afford basic needs such as health care and education.
It is important to remember that many people in the world live in poverty, and each person’s story is unique. By working together, we can bring an end to global poverty and improve the quality of life for all people.
Thank you for your attention! I hope this has been informative.