Oxfam report says rich getting richer and poor getting poorer amid coronavirus pandemic
3 years, 11 months ago

Oxfam report says rich getting richer and poor getting poorer amid coronavirus pandemic

ABC  

In the initial months of the pandemic, a stock market collapse saw the world's billionaires experience massive reductions in their wealth. Key points: Worldwide, the wealth of billionaires increased by $US3.9 trillion between March 18 and December 31 But it could take more than a decade for the world's poorest people to recover from the economic impacts of the pandemic, Oxfam says The organisation has called on governments to invest further in public services and the richest individuals and corporations to contribute their fair share of tax But this setback was short lived. World's billionaires increased wealth by $US3.9 trillion After the global financial crisis in 2008, it took five years for billionaire wealth to return to its pre-crisis highs. Rich get richer Photo shows Money falling Australia's rich keep getting richer, with the top 1 per cent of Australians owning more wealth than the bottom 70 per cent combined. It's official: rich getting richer Photo shows A 300 foot long yacht The latest figures from the Bureau of Statistics show that the richest Australians have further increased their share of the nation's wealth.

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History of this topic

World's top 1% gained $42 trillion in a decade, taxes at record lows: Oxfam
5 months, 2 weeks ago

World's top 1% gained $42 trillion in a decade, taxes at record lows: Oxfam

Business Standard  

In the last decade, the wealth of the richest one per cent globally surged by a staggering $42 trillion, news agency AFP reported, citing global non-profit organisation Oxfam. High hope from G20 summit in Brazil Under Brazil’s leadership, the G20, representing 80 per cent of the global GDP, is prioritising international cooperation to tax the super-rich. Oxfam described the summit …

World may have its first trillionaire in next decade. Here’s a list of probables
11 months, 3 weeks ago

World may have its first trillionaire in next decade. Here’s a list of probables

Live Mint  

The first trillionaire of the world may appear in the next decade, UK-based non-profit Oxfam International said in its published assessment of global inequalities this week, named 'Inequality Inc'. It included the names of Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investor Warren Buffett. Not only this, in the ‘Inequality …

Oxfam inequality report 2024: World’s five richest men doubled their fortunes to $869 billion since 2020
11 months, 3 weeks ago

Oxfam inequality report 2024: World’s five richest men doubled their fortunes to $869 billion since 2020

The Hindu  

Published : Jan 17, 2024 11:52 IST - 4 MINS READ The combined fortunes of the world’s five richest men have more than doubled to $869 billion since 2020 while five billion people have been made poorer, anti-poverty group Oxfam said. An Oxfam report titled “Inequality Inc.”, which comes as business elites gather between January 15 and 19 for the …

The world could get its first trillionaire within 10 years
11 months, 3 weeks ago

The world could get its first trillionaire within 10 years

Associated Press  

DAVOS, Switzerland — The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos. The group said the fortunes of the five richest men — Tesla CEO Elon Musk, Bernard Arnault and …

Billionaires Today $3.3 Billion Richer Than They Were in 2020, Richest Five Men Doubled Fortune
11 months, 3 weeks ago

Billionaires Today $3.3 Billion Richer Than They Were in 2020, Richest Five Men Doubled Fortune

News 18  

The world’s wealthiest five men have more than doubled their fortune since 2020, the charity Oxfam said on Monday, as it called on nations to resist the ultra-rich’s influence over tax policy. A report from the charity, published as the global elite hobnob at the World Economic Forum in Davos this week, said their wealth rose from $405 billion in …

Wealth of five richest men doubles since 2020 as five billion people made poorer in 'decade of division': Oxfam
11 months, 3 weeks ago

Wealth of five richest men doubles since 2020 as five billion people made poorer in 'decade of division': Oxfam

New Indian Express  

The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020 —at a rate of $14 million per hour— while nearly five billion people have been made poorer, reveals a new Oxfam report on inequality and global corporate power. This inequality is no accident; the billionaire class is ensuring corporations deliver more …

Why the world’s five richest people bag more wealth as poverty gap widens
11 months, 3 weeks ago

Why the world’s five richest people bag more wealth as poverty gap widens

Al Jazeera  

Poverty inequality across the world is exploding, with the rich hoarding a disproportionate amount of global wealth while the already vulnerable are getting fewer resources. The world’s five richest men — LVMH chief Bernard Arnault, Amazon’s Jeff Bezos, investor Warren Buffet, Oracle co-founder Larry Ellison and Tesla CEO Elon Musk — have seen their wealth double since 2020 and are …

Five richest men doubled fortunes after 2020, Oxfam says as Davos opens
11 months, 3 weeks ago

Five richest men doubled fortunes after 2020, Oxfam says as Davos opens

Al Jazeera  

Charity says billionaires $3.3 trillion richer than in 2020 as annual gathering of business elites take place. The world’s richest five men have more than doubled their fortunes since 2020, the charity Oxfam has said, sounding the alarm about unchecked corporate power as business elites hold their high-profile annual gathering in Davos, Switzerland. The five men are worth a combined …

As the billionaires gather at Davos, it’s worth examining what’s become of their dreams
11 months, 3 weeks ago

As the billionaires gather at Davos, it’s worth examining what’s become of their dreams

New Indian Express  

John Quiggin, The University of Queensland Gathering for their annual World Economic Forum at Davos in Switzerland this week, the world’s business and political elite will be digesting some unpleasant reading courtesy of the aid agency Oxfam International. Oxfam’s annual report on global inequality released this morning shows the wealth of the world’s five richest billionaires has more than doubled …

So far it's a grand decade for billionaires, says new report. As for the masses ...
11 months, 3 weeks ago

So far it's a grand decade for billionaires, says new report. As for the masses ...

NPR  

So far it's a grand decade for billionaires, says new report. Oxfam's assertions This latest edition of the Oxfam report looks back over the last few years since 2020 and describes the growing unequal distribution of wealth as "the beginnings of a decade of division." Oxfam spells out just how well billionaires are faring: "The world's five richest men have …

Networth of richest-1% double of rest of world: Oxfam
1 year, 11 months ago

Networth of richest-1% double of rest of world: Oxfam

Deccan Chronicle  

Davos: The richest 1 per cent have bagged nearly twice as much wealth as the rest of the world population put together over the past two years, a new report said on Monday. Releasing the report on the sidelines of the annual congregation of the global elite in this Swiss ski resort town, Oxfam said a tax of up to …

India\'s richest 1% own more than 40% of total wealth: Oxfam
1 year, 11 months ago

India\'s richest 1% own more than 40% of total wealth: Oxfam

Deccan Chronicle  

Davos: The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual …

New billionaire was created every 30 hours during the pandemic
2 years, 7 months ago

New billionaire was created every 30 hours during the pandemic

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In fact, according to a new report by Oxfam, …

Oxfam report says over 16 crore more people forced into poverty in two years of pandemic
2 years, 11 months ago

Oxfam report says over 16 crore more people forced into poverty in two years of pandemic

The Hindu  

The first two years of the COVID-19 pandemic saw incomes of 99% of humanity fall and over 16 crore people were forced into poverty even as the world's ten richest men saw their fortune more than double to $1.5 trillion at a rate of $1.3 billion a day, a new study showed on Monday. The world's ten richest men saw …

Fortunes of world’s 10 richest men more than doubled in pandemic, Oxfam claims
2 years, 11 months ago

Fortunes of world’s 10 richest men more than doubled in pandemic, Oxfam claims

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The fortunes of the world’s …

Oxfam: Wealth of world’s 10 richest men doubled during pandemic
2 years, 11 months ago

Oxfam: Wealth of world’s 10 richest men doubled during pandemic

NL Times  

The wealth of the ten richest men in the world doubled in the first two years of the pandemic, human rights organization Oxfam Novib said in a report. That number increased faster than in the past 14 years and saw "the largest measured increase ever," Oxfam said. "But we hardly see that urgency in the coalition agreement that will be …

American billionaires added $2 trillion to their wealth during pandemic
3 years, 2 months ago

American billionaires added $2 trillion to their wealth during pandemic

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. The annual billionaires list compiled by Forbes and …

5.2m new millionaires created in 2020 despite economic turmoil during pandemic
3 years, 6 months ago

5.2m new millionaires created in 2020 despite economic turmoil during pandemic

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The number of millionaires in …

American billionaires made $1.3 trillion during Covid pandemic
3 years, 9 months ago

American billionaires made $1.3 trillion during Covid pandemic

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Even as millions of …

Budget 2021: Overcome poverty, battle inequality
3 years, 11 months ago

Budget 2021: Overcome poverty, battle inequality

Hindustan Times  

In my last column, I wrote about the possible danger of an economic recovery which enriches the rich and impoverishes the poor. The Oxfam report on inequality included another surprising voice calling for global economics to change. It is quoted in the report as calling for “radical reforms to reverse the prevailing policy direction of the last four decades”, the …

World’s richest recouped wealth lost due to COVID-19 in 9 months but poorest will take over a decade: Oxfam inequality report
3 years, 11 months ago

World’s richest recouped wealth lost due to COVID-19 in 9 months but poorest will take over a decade: Oxfam inequality report

The Hindu  

The wealth of the world’s top 1,000 billionaires returned to pre-COVID levels in nine months but it could take 14 times longer – more than a decade – for the world’s poorest, says a new report released on Monday. Titled “ The Inequality Virus ”, the annual report by global non-profit Oxfam International said that the COVID-19 pandemic had led …

Billionaires Like Ambani Got Richer Amid COVID, Poor Poorer: Oxfam
3 years, 11 months ago

Billionaires Like Ambani Got Richer Amid COVID, Poor Poorer: Oxfam

The Quint  

The report said: "Worldwide, billionaires' wealth increased by a staggering $3.9 trillion between 18 March and 31 December, 2020. at the same time it is estimated that the total number of people living in poverty could have increased by between 200 million and 500 million.” Oxfam also reportedly said that the increase in the wealth, since the coronavirus crisis began, …

Oxfam urges radical economic rejig for post-COVID world
3 years, 11 months ago

Oxfam urges radical economic rejig for post-COVID world

The Hindu  

Anti-poverty campaigner Oxfam on January 25 warned that the fallout of the coronavirus pandemic will lead to the biggest increase in global inequality on record unless governments radically rejig their economies. In a report geared to inform discussions at the World Economic Forum’s online panels of political and business leaders this week, Oxfam said the richest 1,000 people have already …

COVID has worsened inequality even as the rich thrive: Oxfam
3 years, 11 months ago

COVID has worsened inequality even as the rich thrive: Oxfam

Al Jazeera  

Aid group Oxfam warns that unless governments take prompt action, the world’s poorest will not recover for more than a decade. It could take more than 10 years for the world’s poorest people to recover from the economic fallout of the ongoing COVID-19 induced pandemic, according to a new report published on Monday by Oxfam International, urging governments to act …

Oxfam: The megarich have already recovered from the pandemic. It may take the poor a decade to do so
3 years, 11 months ago

Oxfam: The megarich have already recovered from the pandemic. It may take the poor a decade to do so

CNN  

New York CNN Business — Nine months. The pandemic could increase economic inequality in almost every country at once, the first time this has happened, Oxfam found. “Rigged economies are funneling wealth to a rich elite who are riding out the pandemic in luxury, while those on the front line of the pandemic — shop assistants, health care workers, and …

US billionaires see wealth soar by $845bn during coronavirus crisis
4 years, 3 months ago

US billionaires see wealth soar by $845bn during coronavirus crisis

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. As millions of Americans lost earnings amid the …

The richest billionaires became vastly richer during pandemic, even as stocks tumbled
4 years, 7 months ago

The richest billionaires became vastly richer during pandemic, even as stocks tumbled

Salon  

A new report reveals that American billionaires have seen their fortunes increase by $434 billion since the start of the pandemic, although at least one analysis disputes that view on the basis of stock losses. The top five billionaires on that list — Bezos, Zuckerberg, Microsoft co-founder Bill Gates, Oracle CEO Larry Ellison and Berkshire Hathaway CEO Warren Buffett — …

Billionaires are getting even richer from the pandemic. Enough is enough (opinion)
4 years, 8 months ago

Billionaires are getting even richer from the pandemic. Enough is enough (opinion)

CNN  

Editor’s Note: Chuck Collins directs the Program on Inequality at the Institute for Policy Studies. Yet as my colleagues and I track in a new report for the Institute for Policy Studies, the wealth of America’s billionaires actually increased by nearly 10% over just three weeks as the COVID-19 crisis took hold. Extreme wealth inequality, in short, is America’s “preexisting …

The Coronavirus Pandemic Could Force Half A Billion People Into Poverty
4 years, 9 months ago

The Coronavirus Pandemic Could Force Half A Billion People Into Poverty

Huff Post  

LOADING ERROR LOADING The economic impacts of the coronavirus pandemic sweeping the world could lead to 580 million people ― 8% of humanity ― being pushed into poverty and see an increase in global poverty for the first time since 1990. “Just imagine that times half a billion going on all over the developing world right now,” said Max Lawson, …

5 richest men's fortune doubled since 2020; 1st trillionaire within a decade: Oxfam
4 years, 11 months ago

5 richest men's fortune doubled since 2020; 1st trillionaire within a decade: Oxfam

Hindustan Times  

The net worth of the five richest men has more than doubled since 2020 while nearly five billion people have been made poorer, an Oxfam report has revealed. The report also estimates the imminent emergence of the world's first trillionaire within the next decade, juxtaposed against a stark projection that it would take more than two centuries to eradicate global …

2,153 billionaires are richer than 4.6 billion people, Oxfam report says
4 years, 11 months ago

2,153 billionaires are richer than 4.6 billion people, Oxfam report says

Daily Mail  

The world's billionaires are richer than 60 per cent of the global population, a report for charity Oxfam has claimed. The number of billionaires in the world has doubled in the last decade to 2,153 and they now control more wealth than 4.6billion people, a report for Oxfam has found The 22 wealthiest men control more wealth than all of …

Combined total wealth of 63 Indian billionaires higher than the total 2018-19 Union Budget: Oxfam
4 years, 11 months ago

Combined total wealth of 63 Indian billionaires higher than the total 2018-19 Union Budget: Oxfam

The Hindu  

India’s richest 1% hold more than four-times the wealth held by 953 million people who make up for the bottom 70% of the country’s population, while the total wealth of all Indian billionaires is more than the full-year budget, a new study said on Monday. Releasing the study Time to Care here ahead of the 50th Annual Meeting of the …

Wealth of 63 Indian billionaires more than 2019 Union Budget: Oxfam report
4 years, 11 months ago

Wealth of 63 Indian billionaires more than 2019 Union Budget: Oxfam report

India Today  

India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian billionaires is more than the full-year budget, a new study said on Monday. Releasing the study 'Time to Care' in Davos ahead of the …

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