Economics/Class Relations

Oxfam: 8 richest billionaires have as much wealth as the world’s poorest half

By Marion Solletty, Politico

Global inequality is so significant that the eight richest billionaires have as much wealth as the poorest half of the world’s population combined, NGO Oxfam said Monday.

In a report released ahead of the World Economic Forum in Davos, the charity estimated the funds available to the eight men, including Microsoft founder Bill Gates, Facebook CEO Mark Zuckerberg and Amazon’s Jeff Bezos, was equal to that of the world’s poorest 3.6 billion people.

“It is obscene for so much wealth to be held in the hands of so few when one in 10 people survive on less than $2 a day,” said Winnie Byanyima, Oxfam’s executive director.

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