Friday October 30, 2020

Richest 1% now wealthier than the rest of the world, Oxfam says

The charity called on governments to intensify efforts to reduce inequality

18th January, 2016
Oxfam says the richest 1% of the world's population own more than the rest of the world Pic: Pixabay

The richest one per cent is now wealthier than the rest of humanity combined, according to Oxfam, which called on governments to intensify efforts to reduce such inequality.

In a report published on the eve of the World Economic Forum’s annual meeting in Davos, Switzerland, the anti-poverty charity cited data from Credit Suisse in declaring the most affluent controlled most of the world’s wealth in 2015. That’s a year earlier than it had anticipated....

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