The world’s 2,153 billionaires are richer than 4.6bn people, says Oxfam
JOHANNESBURG – The world’s richest 1% have more than twice the wealth of the rest of humanity combined, according to Oxfam, which called on governments to adopt “inequality-busting policies.”
In a report published ahead of the World Economic Forum’s annual meeting in Davos, the U.K.-based charity said governments are “massively under-taxing” rich individuals and corporations, and under-funding public services.
Oxfam’s ‘Time to Care’ report also highlighted gender-based economic disparities, saying women and girls were burdened with disproportionate responsibility for care work and fewer economic opportunities. “Economic inequality is out of control,” with 2,153 billionaires having more wealth than 4.6 billion people in 2019, it said.
Source: iol.co.za
