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World’s richest 1% increased wealth by $33.9 trillion since 2015, Oxfam says
UNITED STATES, JUN 26 – Oxfam reports the richest 1% now own 43% of global assets, with wealth growth enough to eliminate poverty 22 times over, highlighting rising inequality and aid cuts.
- Oxfam's report reveals that the richest 1% gained over $33.9 trillion since 2015, with 3,000 billionaires accounting for $6.5 trillion of that increase.
- The report highlights that global inequality has worsened, hindering efforts to alleviate poverty and address climate change.
- Amitabh Behar, Executive Director of Oxfam, stated that this wealth concentration is choking poverty reduction efforts and that governments are off track in fostering jobs, gender equality, and ending hunger.
- Oxfam advocates for taxing the ultra-rich to finance essential services, noting that a survey found 9 out of 10 people support this initiative.
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The wealth of the world's 3,000 billionaires has grown by $6.5 trillion (€5.56 trillion) over the past decade, or 14.6 percent of the world's gross domestic product, according to a report by charity Oxfam. The richest 1 percent of people have enough money to end global poverty 22 times over, it said.
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Coverage Details
Total News Sources25
Leaning Left8Leaning Right0Center13Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
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