Monday, January 16, 2023

World’s richest 1% captured over 63% of all wealth created since 2020 — Oxfam

The world’s richest 1% captured over two-third of all wealth created by humanity since 2020, leaving just one-third for the other 99% of the population, claims a report published by Oxfam on Monday, January 16.

The report, titled ‘Survival of the Richest,’ notes that the richest 1% of the world’s population captured over USD 26 trillion (nearly 63%) of the USD 42 trillion created since 2020, nearly twice the USD 16 trillion (37%) that went to the rest of the population.

Oxfam notes that the rate of the concentration of wealth has been faster in the first two years of the new decade than ever before. In the previous decade the super-rich had expropriated nearly 54% of the total wealth created.
"Capital accumulation."

People's Dispatch

1 comment:

Peter Pan said...

As Ross Perot said... "a giant sucking sound".