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"Rising Inequality: World on Track for First Trillionaire Within a Decade"

Oxfam International warns that the world is on track to produce its first trillionaire within a decade, while the wealth gap has been "supercharged" during the pandemic, with the fortunes of the five richest men doubling since 2020. The organization highlights that nearly 5 billion people have become poorer, emphasizing the urgent need for measures to address inequality, such as permanent taxation of the wealthiest individuals, more effective taxation of large corporations, and a renewed effort against tax avoidance.

2 years ago•Source: CBS News

"The Doubling Wealth of the World's Top Billionaires: A Decade of Disparity"

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1.9 min•2 years ago

"The Doubling Wealth of the World's Top Billionaires: A Decade of Disparity"

According to an Oxfam report, the combined wealth of the world's five richest men has more than doubled since 2020, reaching $869 billion in November 2023. The report highlights the increasing wealth gap, with the richest 1% owning 43% of global financial assets, and calls for measures to curb corporate power and reduce wealth inequality, as the charity warns that extreme poverty persists while a small number of individuals race to become the world's first trillionaire within the next decade.

via CNBC

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