8 Men Own Same Wealth as Half of the World: Oxfam’s New Report

• 01.16.2017, 15:49
•  World,  No-politics

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report by Oxfam.

Oxfam's report shows how our broken economies are funnelling wealth to rich elites at the expense of the poorest in society - the majority of whom are women. The richest are accumulating wealth at such an astonishing rate that the world could see its first trillionaire in just 25 years. To put this figure in perspective - you would need to spend $1 million every day for 2738 years to spend $1 trillion.

"Inequality is trapping hundreds of millions in poverty; their wages are stagnating yet corporate bosses take home million dollar bonuses; their health and education services are cut while corporations and the super-rich dodge their taxes; their voices are ignored as governments sing to the tune of big business and a wealthy elite"- Winnie Byanyima, Executive Director of Oxfam International said.