Billionaires Are the Biggest Carbon Polluters —By a Lot

Private jets and superyachts have become hallmarks of the rich and famous, but according to TechSpot, they're also fueling climate change at a jaw-dropping rate. A new carbon equity study published by Oxfam found that in 90 minutes, a billionaire burns through more carbon dioxide than the average person does in a lifetime. Oxfam International Executive Director Amitabh Behar did not mince words on how these actions are accelerating climate change. "The super-rich are treating our planet like their personal playground, setting it ablaze for pleasure and profit." Here's how billionaires are heating up the planet:

• Private jets: In its report, Oxfam looked at 50 of the richest billionaires on the planet. They tracked down data on 23 of their private jets, which they each took to the air 184 times on average last year. This produced 2,286 tons of carbon per billionaire, which is more than what an average person would produce in 300 years. Elon Musk's two private jets produced 6,059 tons of CO2, equal to what 11 people would in their lifetimes.
• Superyachts: Even worse than flying private? The 23 superyachts owned by 18 of the richest billionaires, which emit three times more carbon emissions than their private jets. Bloomberg writes that the number of superyachts on the water—which span over 100 feet—has quadrupled in the past three decades. Jeff Bezo's $500 million Kuru emitted 7,000 tons of C02 in the past year alone (about what 455 Americans would in a year).
• Investments: Personal pollution aside, Oxfam says the biggest way billionaires contribute to carbon emissions is through their investments. They found that 40% of the billionaires studied invested in the fossil fuel or shipping industries. Funneling money into such carbon intensive industries contributes to the 2.9 million tons of emission that they average.
• Tax the rich: Oxfam's senior climate justice policy adviser Chiara Liguori says these findings demonstrate that the wealthy need to pay up. "This report shows that fairer taxes on extreme wealth are crucial to accelerate climate action and fight inequality—starting with private jets and superyachts. It's clear these luxury toys aren't just symbols of excess; they're a direct threat to people and the planet."

(Danish farmers will pay taxes for their gassy cows.)