Money, money, money, always sunny in the rich man’s world
Feeling rich? This news story will bust that myth immediately.
According to Oxfam’s latest wealth report, the world’s 62 richest billionaires own as much wealth as the poorer half of the world’s population.
The research found that the wealth of the poorest half of the world’s population – that’s 3.6 billion people – has fallen by a trillion dollars since 2010. Meanwhile the wealth of the richest 62 has increased by more than half a trillion dollars to $1.76 trillion. Just nine of the 62 are women.
Mark Goldring, Oxfam GB chief executive, said: “It is simply unacceptable that the poorest half of the world population owns no more than a small group of the global super-rich – so few, you could fit them all on a single coach.
“World leaders’ concern about the escalating inequality crisis has so far not translated into concrete action to ensure that those at the bottom get their fair share of economic growth. In a world where one in nine people go to bed hungry every night we cannot afford to carry on giving the richest an ever bigger slice of the cake.
“We need to end the era of tax havens which has allowed rich individuals and multinational companies to avoid their responsibilities to society by hiding ever increasing amounts of money offshore.
“Tackling the veil of secrecy surrounding the UK’s network of tax havens would be a big step towards ending extreme inequality. Three years after he made his promise to make tax dodgers ‘wake up and smell the coffee’, it is time for David Cameron to deliver.”
These four charts just show obscenely rich the world’s wealthiest people are:
Chart source: Oxfam