According to a recent report by OXFAM, a confederation of 19 independent charitable organizations, the wealth of the world is increasingly flowing to the richest of the rich. Such disparity has many worried as such a disparity can’t continue.
The report showed that 82% of the money generated globally last year went to the richest 1%. In fact the richest 42 people on the planet have the same wealth as the poorest 50% of the world’s population, a number in the 3 billion person range. Last year alone saw the Billionaire’s coffers swell by an additional $762 Billion. There are currently 2,043 Billionaires in the world, 90% of which are men.
This huge uptick was the result of growing stock markets around the world but unfortunately disproportionately benefited the few at the very top.