The wealth of the world's richest people has increased while the incomes of the poorest segments of the population have decreased
Kyiv • UNN
The global rich have doubled their wealth since 2020, while the world's poorest have lost $20 billion, exacerbating economic inequality, Oxfam reports.
The crises and wars of recent years have widened the gap between rich and poor around the world. According to Oxfam, billionaires have been able to significantly increase their wealth, while the poorest have lost.
This is reported by UNN with reference to a report by Oxfam , which studies the problems of poverty and injustice.
Details
The five richest people in the world - Elon Musk, Jeff Bezos, Bernard Arnault, Larry Ellison, and Warren Buffett - have more than doubled their wealth since 2020.
The study, published on Monday, January 15, is based on data from various sources, including Forbes magazine's billionaire wealth estimates and Credit Suisse's global wealth estimates.
In its assessment, Oxfam also concludes that nearly five billion of the world's poorest people lost $20 billion during this period.
The great gap between rich and poor is likely to widen, the report says, and will result in the world gaining its first trillionaire within a decade. At the same time, it warns that if current trends continue, global poverty will not be eradicated for another 229 years.
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Oxfam presented the Inequality Inc. study at the beginning of the World Economic Forum in Davos.
People around the world are working harder and longer hours, often for minimum wage in precarious and dangerous jobs. In 52 countries, the average real wage of nearly 800 million workers has fallen. These workers have collectively lost US$1.5 trillion over the past two years, equivalent to 25 days of lost wages for each worker
Mirroring the wealth of the super-rich, the report also notes that business profits have risen sharply despite the cost-of-living crisis. According to the study, 148 of the world's largest corporations together earned $1.8 trillion in net profit in the year to June 2023, a 52% increase over the average net profit in 2018-21.
Alima Shivji, interim executive director of Oxfam, said that such extremes cannot be accepted as the new normal, the world cannot afford another decade of division.
We need a tax on wealth so that the super-rich also make their fair share of contribution to the common good
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AddendumAddendum
The World Economic Forum will be held on January 15-19 in the Swiss resort of Davos. Klaus Schwab, founder and executive chairman of the World Economic Forum, spoke in favor of "open, transparent negotiations" that can "restore mutual trust between people and nations.
Recall
In Davos, national security advisors reviewed the second five points of the Ukrainian peace formula.
