That’s the purchasing power of four billion people worldwide who live in relative poverty.
The statistic comes from the Clinton Global Initiative, an organization led by former President Bill Clinton that brings together global leaders in business, philanthropy and public service to discuss how to solve some of the world’s most pressing problems.
CGI is holding a four-day conference in New York beginning today. A description for a Sept. 26 panel, “Creating Business at the Base of the Pyramid,” says that the four billion people living on fewer than five dollars per day are a key part of the global economy.
President Barack Obama will address the CGI on Sept. 24 and will talk with Clinton about the benefits of the 2010 health-care overhaul, White House press secretary Jay Carney said last week.