Wealth amassed by the richest 1% will overtake
the amount owned by the rest of the people in
the world, according to a study by charity group
Oxfam.
The richest 1% of people will see their share of
global wealth increase to more than 50% in
2016 at the current rate of growth.
Their wealth increased from 44% in 2009 to
48% last year, said the group.
Oxfam’s report warns that the “explosion in
inequality” is holding back the fight against
global poverty.
Winnie Byanyima, executive director of Oxfam
International asked whether people really
wanted to live in a world where the 1% own
more than the rest of the people combined.
“The scale of global inequality is quite simply
staggering and despite the issues shooting up
the global agenda, the gap between the richest
and the rest is widening fast,” she said in a
statement on Monday ahead of the annual
World Economic Forum in Davos.
Of the remaining 52% of global wealth, almost
46% is owned by the rest of the richest fifth of
the world’s population, Oxfam said.
The remaining population account for just 5.5%
of global wealth and their average wealth was
$3,851 (£2,544) per adult in 2014, reports the
BBC.
That compares to an average wealth of $2.7m
per adult for the elite 1%.
Ofxam said it will push for urgent action to
stem the “rising tide of inequality”, starting
with a crackdown on tax evasion by companies.
The study comes just a day before US
President Barack Obama’s State of the Union
address, in which he is expected to call for tax
increases on the wealthy to help the middle
class.
In October, a report from banking giant Credit
Suisse also said that the richest 1% of people
own nearly half of the world’s wealth.Wealth amassed by the richest 1% will overtake
the amount owned by the rest of the people in
the world, according to a study by charity group
Oxfam.
The richest 1% of people will see their share of
global wealth increase to more than 50% in
2016 at the current rate of growth.
Their wealth increased from 44% in 2009 to
48% last year, said the group.
Oxfam’s report warns that the “explosion in
inequality” is holding back the fight against
global poverty.
Winnie Byanyima, executive director of Oxfam
International asked whether people really
wanted to live in a world where the 1% own
more than the rest of the people combined.
“The scale of global inequality is quite simply
staggering and despite the issues shooting up
the global agenda, the gap between the richest
and the rest is widening fast,” she said in a
statement on Monday ahead of the annual
World Economic Forum in Davos.
Of the remaining 52% of global wealth, almost
46% is owned by the rest of the richest fifth of
the world’s population, Oxfam said.
The remaining population account for just 5.5%
of global wealth and their average wealth was
$3,851 (£2,544) per adult in 2014, reports the
BBC.
That compares to an average wealth of $2.7m
per adult for the elite 1%.
Ofxam said it will push for urgent action to
stem the “rising tide of inequality”, starting
with a crackdown on tax evasion by companies.
The study comes just a day before US
President Barack Obama’s State of the Union
address, in which he is expected to call for tax
increases on the wealthy to help the middle
class.
In October, a report from banking giant Credit
Suisse also said that the richest 1% of people
own nearly half of the world’s wealth.Wealth amassed by the richest 1% will overtake
the amount owned by the rest of the people in
the world, according to a study by charity group
Oxfam.
The richest 1% of people will see their share of
global wealth increase to more than 50% in
2016 at the current rate of growth.
Their wealth increased from 44% in 2009 to
48% last year, said the group.
Oxfam’s report warns that the “explosion in
inequality” is holding back the fight against
global poverty.
Winnie Byanyima, executive director of Oxfam
International asked whether people really
wanted to live in a world where the 1% own
more than the rest of the people combined.
“The scale of global inequality is quite simply
staggering and despite the issues shooting up
the global agenda, the gap between the richest
and the rest is widening fast,” she said in a
statement on Monday ahead of the annual
World Economic Forum in Davos.
Of the remaining 52% of global wealth, almost
46% is owned by the rest of the richest fifth of
the world’s population, Oxfam said.
The remaining population account for just 5.5%
of global wealth and their average wealth was
$3,851 (£2,544) per adult in 2014, reports the
BBC.
That compares to an average wealth of $2.7m
per adult for the elite 1%.
Ofxam said it will push for urgent action to
stem the “rising tide of inequality”, starting
with a crackdown on tax evasion by companies.
The study comes just a day before US
President Barack Obama’s State of the Union
address, in which he is expected to call for tax
increases on the wealthy to help the middle
class.
In October, a report from banking giant Credit
Suisse also said that the richest 1% of people
own nearly half of the world’s wealth.

This life....

Am only interested in what happens to d money after they die