Oxfam Reports Tells A Disturbing World’s Wealth Distribution
A new report from Oxfam shows that the world's five richest men doubled their fortunes between 2020 and 2023, while the poorest half of the world's population got 1% poorer. The report is being released as world leaders gather in Davos, Switzerland, for the annual World Economic Forum.
In a recent report, Oxfam revealed that the combined wealth of the world's five richest men—Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Mark Zuckerberg—has doubled to $869 billion since 2020. Meanwhile, the poorest 60%, consisting of 5 billion people, have become even poorer during the same period, according to the Oxfam report.
The charity's report, titled "Inequality Inc.," disclosed that the wealth of the top five billionaires surged from $405 billion in 2020 to $869 billion in the p...