Widening Wealth Gap: World's First Trillionaire Predicted in a Decade as the Poor Gets Poorer
- The wealth of the world's five richest men has doubled since 2020, while five billion people have become poorer, according to a report by Oxfam.
- In the 12 months leading up to June 2023, the largest corporations made nearly $1.8 trillion in profits, a 52.5% increase from previous years.
- Oxfam calls for governments to address wealth inequality by implementing a wealth tax on millionaires and billionaires, capping CEO pay, and breaking up monopolies.
241 Articles
241 Articles
World may have its first trillionaire in next decade if inequality worsens. Here's a list of probables
According to an Oxfam report, ending poverty – the target for which is 2030 under the UN Sustainable Development Goals – may not be possible for another 229 years.
World May Get Its First Trillionaire In A Decade, Here Are 5 Probables
The world could see its first trillionaire with the next decade, according to assessment of global inequalities published earlier this week by UK-based non-profit Oxfam International. The report also notes that ending poverty - the target for which is 2030 under the UN Sustainable Development Goals - may not be possible for another 229 years. According to Time Magazine, the world got its first billionaire in 1916, when John D Rockefeller achieve…
The world could soon have its first trillionaire. Good!
The world could soon have its first trillionaire, according to a prominent anti-poverty organization. That's pretty cool. But Oxfam—which started as a famine relief group before mission creep set in—portrays the achievement of a new nominal benchmark in wealth as a bad thing that contributes to the misery of the masses. Through impressive economic illiteracy, the organization's recent report on inequality and poverty manages to misdiagnose the w…
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