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Thursday, March 28, 2024

Wow! Half Of The World’s Wealth ‘Owned By 85 People’ – Report

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Half of all the world’s wealth is owned by 85 people, who could all fit onto a single double-decker bus.

The shock finding from anti poverty campaigners Oxfam came as world leaders, business chiefs and academics are set to gather this week in Davos for the World Economic Forum.

In their new report “Working for the Few”, Oxfam have found citizens around the world strongly believe that the economy is “skewed” in favour of the rich.

According to polls carried out for the firm in the UK, Brazil, India, South Africa, Spain and the US, most people believe the laws are skewed in favour of the rich. Two-thirds of Brits polled thought “the rich had too much influence over the direction the country is headed”, while just one in ten disagreed.

Oxfam executive director Winnie Byanyima said: “It is staggering that in the 21st Century, half of the world’s population – that’s three and a half billion people – own no more than a tiny elite whose numbers could all fit comfortably on a double-decker bus..

“We cannot hope to win the fight against poverty without tackling inequality. Widening inequality is creating a vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest of us to fight over crumbs from the top table.

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