The parameters for poverty are usually defined by the lack of a roof over one’s head and the inability to afford three meals a day. According to the World Bank, as of March this year, the global poverty rate is 46.9 %. However, did you know that the poorest man in the world lived a luxurious life that most common men could not afford? Sounds downright crazy right? That is because in this case the level of poverty has been deciphered on account of the amount of debt he has, and it’s huge.
The mantle of the poorest man on earth has been given to French citizen Jerome Kerviel. One of the biggest banks in Europe, Société Générale, once employed Kerviel. Jerome is a computer prodigy and holds a master’s degree in finance. Jerome has a debt of Rs 495,068,952,000. This is the highest amount of debt any individual owes to third parties and hence Jerome is often called the poorest man on earth.
Jerome was born in Pont-al-Abe, France. His mother worked as a hairdresser, and his father was a blacksmith. He graduated with a master’s in finance from Lyon’s Lumiere University. After finishing his education, he began working at Société Générale Bank of France as a junior derivatives trader. He was assigned to the Delta One division, which trades equity derivatives, algorithmic trading, exchanges, ETFs, and software investments. He used to receive a salary of Rs 5,449,798 here.
Jerome yearned to be wealthy. He had extensive computer knowledge. He was eclipsed by his talent. Jerome began arbitrage trading using company funds, taking advantage of system weaknesses, although the company remained unaware of this He initially made a lot of money doing this. He made an estimated $73 billion in trading in a year. His forgery was discovered by the Société Générale on January 19, 2008.
Due to Jerome’s manipulation of the bank’s funds during the year, Société Générale suffered a loss of 7.2 billion dollars. In 2008, Jerome was accused of forgery, breach of trust, and unauthorized computer use. Jerome was deeply in debt at the time his scheme was discovered. He owed $6.3 billion in debt. Jerome was sentenced to 3 years in the year 2015. He has now come out of prison after serving his sentence and is trying to get his life back on track but the debt remains.
Jerome is a computer prodigy and holds a master's degree in finance. Jerome has a debt of Rs 495,068,952,000. This is the highest amount of debt any individual owes to third parties and hence Jerome is often called the poorest man on earth. Jerome was born in Pont-al-Abe, France.
Poorest person in the world – World poor man: There is a man called Jerome Kerviel, who is the poorest person in the world. Among the 689 million people living in extreme poverty on $1.90 or less a day, he is the poorest.
In Nigeria, those most at risk of poverty and financially insecure are widows (specifically ones without adult children), orphans, the physically challenged, and migrants.
Children are the poorest – 21.8 percent of children under 18 years of age are MPI poor compared with 15.1 percent of adults. Furthermore, 44 percent of poor people are children under the age of 18, making this group pivotally important for policy.
Labourers (farm workers in villages, casual workers in cities), tribespeople, Dalits (formerly called low caste untouchables) and Muslims remain the poorest Indians. Almost 60% of the poor continue to reside in Bihar, Jharkhand, Orissa, Madhya Pradesh, Chattisgarh, Uttar Pradesh and Uttarakhand.
But there are a small minority of billionaires who started from genuine poverty. Oprah Winfrey grew up in a home without power or running water, and Starbucks CEO Howard Schultz grew up in government-subsidized housing.
Jerome Kerviel is allegedly the poorest man in the world. He is a former rogue trader. He has a -$7.2 billion net worth. Jordan Belfort, depicted in the movie Wolf of Wall Street, also has a negative net worth.
Poverty rates were highest in the states of New Mexico (18.2%), Mississippi (17.8%), Louisiana (16.9%), Arkansas (15.9%), Kentucky (15.8%), Oklahoma (15.8%), and West Virginia (15.6%) and they were lowest in the states of New Hampshire (7.42%), Maryland (9.02%), Utah (9.13%), Hawaii (9.26%).
Nigeria. It is Nigeria, a country in West Africa, which stands out as the most powerful economy on the continent. With a GDP estimated at $477 billion in 2022, Nigeria is at the top of the ranking of the richest African countries, ahead of Egypt and South Africa.
Reissued after periodic review with updates to risk indicators and "if you decide to travel" section. Exercise increased caution in Nepal due to the potential for isolated political violence.
Altitudes, as well as seasons, affect how cold temperatures are in the mountains. Even gateway towns to trekking regions, like Lukla (9,400 feet), are significantly higher than the hill areas you're likely to be traveling from.
Nepal is one of the poorest and least developed countries in the world. The country is a very young democracy, which is in the process of emerging from a politically and socially fragile post-conflict period. Its people have worked hard and achieved much to reduce poverty in Nepal.
Who is the poorest person in the world? Jerome Kerviel, an ex-Societe Generale trader, is arguably the poorest man in the world. He has more debt than anyone else in the world. The poorest person in the world's net worth is -$7.2 billion.
While poverty has been reduced immensely in China over the past decade, it still remains a large problem in rural China. Rural China has historically been disproportionately taxed and also has received fewer benefits from the recent economic development and success of China.
Jérôme Kerviel (French pronunciation: [ʒeʁom kɛʁvjɛl]; born 11 January 1977) is a French rogue trader who was convicted and imprisoned in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use of the bank's computers, resulting in losses valued at €4.9 billion.
Women, infants and elderly are considered as the poorest of the poor. This is because, in a poor household, these people suffer the most and are deprived of the maximum necessities in life.
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