The 'Oxfam' report says that this huge inequality between the rich and the poor may increase further. The world will get its first trillionaire within a decade.
New Delhi: The wealth of the world's top five richest people has doubled since the Covid-19 pandemic, i.e. 2020. Currently, their total wealth is now $ 869 billion. On the other hand, 60 percent of the world's people have lost their wealth. A recent report by the international organization 'Oxfam' has brought this information to the fore and brought the wealth inequality of that time to the fore. The annual meeting of the World Economic Forum began in Davos, Switzerland on Monday. The world's richest people are participating there. Oxfam has published this report just before that.
The report says that this huge inequality between the rich and the poor may increase further. The world will get its first trillionaire within a decade. In addition, if the current trend continues, it will not be possible to eliminate poverty from the world even in 229 years. It is said that the inequality between the rich and the poor has increased further during Corona. The wealth of the world's richest people has grown three times faster than inflation since 2020. Oxfam says South Africa is the most unequal country in the world.
The world's top five richest people are, in addition to Tesla, led by Musk, rocket ship company SpaceX CEO Elon Musk ($226.6 billion), Louis Vuitton chairman and CEO Bernard Arnault ($175.1 billion), Amazon founder Jeff Bezos ($173.6 billion), Oracle co-founder Larry Ellison ($134.9 billion) and Berkshire Hathaway investor and chairman Warren Buffett ($119.5 billion). While Buffett's fortune has remained relatively stable (as of last Wednesday), Meta CEO Mark Zuckerberg and Microsoft co-founder Bill Gates have surpassed him in the Forbes rankings with $129 billion and $120.1 billion respectively.
The news agency said the Oxfam report was compiled using data from research firm Wealth X. It says that since 2020, the wealth of the world's top five richest people has increased by $464 billion, or 114 percent. Meanwhile, the wealth of 60 percent of the world's people, or 4.7 billion people, has decreased by 0.2 percent. The report also says that people are working hard and long hours despite low wages and job insecurity worldwide. Since 2020, 800 million people in 52 countries around the world have seen their wages fall. During this time, these people have lost $1.5 trillion in wealth. Oxfam's interim CEO, Alema Shibji, said that extreme poverty in poor countries is now higher than before the pandemic. Yet a small number of ultra-rich people are on track to become the world's first trillionaires within 10 years.
The report says that this huge inequality between the rich and the poor may increase further. The world will get its first trillionaire within a decade. In addition, if the current trend continues, it will not be possible to eliminate poverty from the world even in 229 years. It is said that the inequality between the rich and the poor has increased further during Corona. The wealth of the world's richest people has grown three times faster than inflation since 2020. Oxfam says South Africa is the most unequal country in the world.
The world's top five richest people are, in addition to Tesla, led by Musk, rocket ship company SpaceX CEO Elon Musk ($226.6 billion), Louis Vuitton chairman and CEO Bernard Arnault ($175.1 billion), Amazon founder Jeff Bezos ($173.6 billion), Oracle co-founder Larry Ellison ($134.9 billion) and Berkshire Hathaway investor and chairman Warren Buffett ($119.5 billion). While Buffett's fortune has remained relatively stable (as of last Wednesday), Meta CEO Mark Zuckerberg and Microsoft co-founder Bill Gates have surpassed him in the Forbes rankings with $129 billion and $120.1 billion respectively.
The news agency said the Oxfam report was compiled using data from research firm Wealth X. It says that since 2020, the wealth of the world's top five richest people has increased by $464 billion, or 114 percent. Meanwhile, the wealth of 60 percent of the world's people, or 4.7 billion people, has decreased by 0.2 percent. The report also says that people are working hard and long hours despite low wages and job insecurity worldwide. Since 2020, 800 million people in 52 countries around the world have seen their wages fall. During this time, these people have lost $1.5 trillion in wealth. Oxfam's interim CEO, Alema Shibji, said that extreme poverty in poor countries is now higher than before the pandemic. Yet a small number of ultra-rich people are on track to become the world's first trillionaires within 10 years.
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