World’s richest 1% get 82% of the wealth, Oxfam says
Approximately 82 percent of the money generated last year went to the richest 1 percent of the global population, the report said, while the poorest half saw no increase at all
Last year, Oxfam said billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over
Just 42 people own the same amount of wealth as the poorest 50 percent worldwide, a new study by global charity Oxfam claimed.
Oxfam said its figures, which some observers have criticized, showed economic rewards were "increasingly concentrated" at the top. The charity cited tax evasion, the erosion of worker's rights, cost-cutting and businesses' influence on policy decisions as reasons for the widening inequality gap.
The charity also found the wealth of billionaires had increased by 13 percent a year on average in the decade from 2006 to 2015. Last year, billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over. It also claimed nine out of 10 of the world's 2,043 billionaires were men.
Approximately 82 percent of the money generated last year went to the richest 1 percent of the global population, the report said, while the poorest half saw no increase at all
Last year, Oxfam said billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over
Just 42 people own the same amount of wealth as the poorest 50 percent worldwide, a new study by global charity Oxfam claimed.
Oxfam said its figures, which some observers have criticized, showed economic rewards were "increasingly concentrated" at the top. The charity cited tax evasion, the erosion of worker's rights, cost-cutting and businesses' influence on policy decisions as reasons for the widening inequality gap.
The charity also found the wealth of billionaires had increased by 13 percent a year on average in the decade from 2006 to 2015. Last year, billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over. It also claimed nine out of 10 of the world's 2,043 billionaires were men.
