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Oxfam International

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"The Growing Wealth Gap: Trillionaires on the Horizon"

Originally Published 2 years ago — by Newser

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Source: Newser

Oxfam International warns that the world is entering a "decade of division" as the wealth of the five richest men has doubled since 2020, while nearly 5 billion people have become poorer, exacerbated by the pandemic and geopolitical events. The organization predicts the possibility of a trillionaire within a decade, highlighting the urgent need for measures to address global inequalities, including permanent taxation of the wealthiest, effective taxation of big corporations, and a renewed drive against tax avoidance.

"Oxfam Predicts World's First Trillionaire Within a Decade"

Originally Published 2 years ago — by The Washington Post

Featured image for "Oxfam Predicts World's First Trillionaire Within a Decade"
Source: The Washington Post

Oxfam International's report "Inequality Inc." warns that the world could see its first trillionaire within 10 years if current inequality trends persist, with the wealth of the five richest individuals nearly doubling since 2019 while nearly 5 billion people have become poorer. The report highlights the increasing gap between the wealthy and the poor, urging governments to implement measures such as CEO salary caps and permanent taxes on wealth and excess profits to address the escalating wealth inequality.