Oxfam: In the pandemic, the wealth of the world ’s 10 richest men more than doubled

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According to the BBC, the pandemic has increased the wealth of the world's wealthiest and increased the number of people living in poverty.

Oxfam stated in a briefing prepared ahead of a virtual mini-summit of world leaders being conducted under the auspices of the World Economic Forum that men's wealth increased from $700 billion to $1.5 trillion, an average of $1.3 billion each day.

The research alleges that reduced incomes for the world's poorest people have resulted in the death of 21,000 individuals per day.

However, Oxfam said that the world's ten wealthiest men have more than doubled their combined fortunes since March 2020.

Oxfam publishes a study on global inequality each year at the commencement of the World Economic Forum in Davos.

Thousands of business and political leaders, celebrities, campaigners, economists, and journalists typically congregate in the Swiss ski resort for panel talks, drinks parties, and schmoozing during this event.

However, for the second year in a row, the meeting (planned for this week) will be conducted entirely online, following the demise of plans to hold an in-person event due to the appearance of the Omicron version.

Oxfam's assessment, which was also based on World Bank data, stated that a lack of healthcare access, malnutrition, gender-based violence, and climate collapse contributed to one fatality every four seconds.

It stated that 160 million more people were living on less than $5.50 (£4.02) per day than they would have been had the Covid pandemic not occurred.

The World Bank defines poverty in upper-middle-income nations as $5.50 per day.

Publish : 2022-01-17 15:47:00

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