Wealth accumulated by the world’s richest 1% will exceed that of the other 99% by next year, Oxfam has warned.
A report by the anti-poverty charity suggests the wealthiest 1% have seen their share of global assets rise from 44% in 2009 to 48% last year – with an average worth of $2.7m (£1.8m) each. The figure is on track to exceed 50% this year.
Below the richest fifth, 80% of the world’s population own just 5.5% of wealth – an average of £3,851 dollars (£2,500) each.
The findings come ahead of the World Economic Forum in Davos, Switzerland, this week.
Oxfam International executive director Winnie Byanyima said: “Do we really want to live in a world where the 1% own more than the rest of us 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.”.. see more
source: skynews
Tags: business, business', Richest 1%, World inequality
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