Cyprus: The Richest Citizen on Island Could Support the State For Over a Year

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Bloomberg Media published the so-called Robin Hood Index: whereby the agency’s analysts calculated how long governments from different countries could work if all of the country’s budget expenditures were taken over by its single richest inhabitant.

Bloomberg estimated that the assets of the richest Russian would be enough for two weeks, whilst Cyprus could finance all public expenditure for more than a year.

Bloomberg’s 2018 Robin Hood Index took 49 countries, and for calculations, analysts used the data of their ‘index of billionaires’ and data of the International Monetary Fund on budget expenditure within the respective countries.

In the case of Cyprus, its richest citizen is a Norwegian-born oil tanker and shipping mogul, 73-year-old John Fredriksen could fund the government for an approximate 441 days.