“People are going to have to work for more years, until they are 70 or 75, and just work three days a week – perhaps 11 hours a day,” he told the conference, according to Paraguay.com news agency.

“With three work days a week, we would have more time to relax; for quality of life. Having four days [off] would be very important to generate new entertainment activities and other ways of being occupied.”

The 74-year-old self-made magnate believes that such a move would generate a healthier and more productive labour force, while tackling financial challenges linked to longevity.