Wednesday, January 22, 2014

85 richest people worth over $1.6 trillion.

The world's 85 richest people possess the equivalent wealth of the world's 3.5 billion poorest combined.

The remarkable divide between the world's richest and poorest people has been highlighted in a new damning report from Oxfam which is attempting to emphasize the extent to which the planet's wealth is controlled by a small 'global elite'.

"It is staggering that in the 21st Century, half of the world's population – that's three and a half billion people – own no more than a tiny elite whose numbers could all fit comfortably on a double-decker bus," said Oxfam executive director Winnie Byanyima.

The growing problem of wealth distribution is one of the issues Oxfam believes needs to be tackled before a proper solution to poverty can be found. "Widening inequality is creating a vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest of us to fight over crumbs from the top table," said Byanyima.

It is believed that the richest 1% of the world's population control more than $110 trillion, a total equating to 65 times that of the poorest 50%. 

Source: Guardian