Jack Peat — 62 People Own the Same as Half of the World

New Oxfam research has revealed runaway inequality has created a world where 62 people own as much as the poorest half of the world’s population.

The report, published ahead of the annual gathering of the world’s financial and political elites in Davos, found the wealth of the poorest half of the world’s population – that’s 3.6 billion people – has fallen by a trillion dollars since 2010. This drop has occurred despite the global population increasing by around 400 million people during that period.

Meanwhile the wealth of the richest 62 has increased by more than half a trillion dollars to $1.76 trillion.

Globally, it is estimated that super-rich individuals have stashed a total of $7.6 trillion in offshore accounts.…

The London Economic
62 People Own the Same as Half of the World

Jack Peat, founder of The London Economic

See also

In a report published on the eve of the World Economic Forum’s annual meeting in Davos, Switzerland, the anti-poverty charity cited data from Credit Suisse Group AG in declaring the most affluent controlled most of the world’s wealth in 2015. That’s a year earlier than it had anticipated.…

Oxfam also calculated that 62 individuals had the same wealth as 3.5 billion people, the bottom half of the global population, compared with 388 individuals five years earlier.

Wealth is becoming more concentrated. Piketty on track.

Bloomberg Business
Richest 1% Now Wealthier Than the Rest of the World, Oxfam Says
Simon Kennedy