By Steven Hopkins today:
42 people own the same wealth as the poorest 50 percent
Billionaires’ fortunes grew by £585 billion – enough to end extreme poverty more than seven times over – in the 12 months to March 2017, Oxfam said on Monday, as it revealed a new record had been set for the biggest increase in people surpassing the financial milestone – one every two days.
The charity’s Reward Work, Not Wealth report – released ahead of the World Economic Forum (WEF) in Davos, which starts tomorrow – reveals that 82% of wealth generated globally last year went to the richest one percent of the population, while the 3.7 billion people who make up the poorest half saw their wealth flatline.
The charity said economic rewards are “increasingly concentrated” at the top, and there were…
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