Oxfam

The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade, Oxfam said on Thursday, ahead of a G20 summit in Brazil where taxing the super-rich tops the agenda.

Oxfam has revealed that the wealth accumulated by the richest 1 percent of the global population has surged to 42 trillion dollars over the past decade, which is nearly 34 times more than the wealth held by the bottom 50 percent. This finding was disclosed ahead of the G20 finance ministers and central bankers meeting starting today in Rio de Janeiro.

The Covid pandemic has created a new billionaire every 30 hours and now one million people could fall into extreme poverty at the same pace, Oxfam said Monday as the Davos summit returns.

The pandemic has worsened income inequality, with the world's richest people regaining their losses in nine months while the number of people living in poverty has doubled to more than 500 million, according to a new report from the anti-poverty group Oxfam. 

The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday.

The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on April 9.

About 2,000 of the world's richest people own more than the poorest 4 billion and 600 million. The new inequality statistics has been published by the large association of charities Oxfam.

The report focuses on policies that allow men to dominate the top ranks of business and government. Economic inequality, the report argues, is built on gender inequality.

The world's richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to the global economy each year than the technology industry, Oxfam said on Jan. 20.

UK-based humanitarian relief agency Oxfam and another 24 nongovernmental organizations sent an open letter to European leaders calling for changes to migration policy, especially with regards to Greece, where the situation for thousands of refugees and migrants is "unsustainable."

The world's 26 richest people own the same wealth as the poorest half of humanity, Oxfam said Monday, urging governments to hike taxes on the wealthy to fight soaring inequality, reports AFP.