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Since 2010, Oxfam
notes, the world's
poorest half has
lost $1 trillion
in wealth. Our
globe's 62 richest
billionaires, a g...
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Tracking Our World’s Relentless Rich

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Every winter the world’s political and business elite retreats high up into the Alps to think deep thoughts at the Davos World Economic Forum. The global charity Oxfam has some new stats on the global grand divide that elite ought to be contemplating. For updates on inequality and the struggle against it, visit toomuchonline.org to sign up for Too Much, the Institute for Policy Studies monthly on excess and inequality.

Published in: Economy & Finance

Tracking Our World’s Relentless Rich

  1. 1. Since 2010, Oxfam notes, the world's poorest half has lost $1 trillion in wealth. Our globe's 62 richest billionaires, a gang small enough to fit into a single bus, now have as much wealth as our poorest 3.6 billion. Source: Oxfam, An Economy for the 1%, January 2016 Tracking Our World’s Relentless Rich Every winter the world’s political and business elite retreats high up into the Alps to think deep thoughts at the Davos World Economic Forum. The charity Oxfam has some new stats on the global grand divide that elite ought to be contemplating. 62 80 92 159 177 388 2015 2014 2013 2012 2011 2010 56% 54% 51.9% 50% 44% 46% 48.1% 2009 2010 2011 2012 2013 2014 2015 The world’s richest 1 percent, meanwhile, now hold as much wealth as the entire bottom 99 percent combined! Bottom 99% Top 1% Share of global wealth, 2009-2015 What’s letting wealth concentrate so rapidly? Offshore tax havens like the Cayman Islands play a key role. The global rich, Oxfam estimates, have hidden away $7.6 trillion in these havens, and those doing the hiding include plenty of movers and shakers at Davos. Nine of every ten of the world’s biggest multinational corporations, says Oxfam, turn out to “have a presence in at least one tax haven.”

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