World’s 2,153 billionaires hold more wealth than 4.6 billion people combined: report

MarketWatch | 1/19/2020 | MarketWatch
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The world’s 2,153 billionaires have more wealth than the 4.6 billion people who make up 60% of the planet’s population, a new report from the charity group Oxfam says.

Oxfam’s report, ‘Time to Care’, was released Sunday just ahead of the World Economic Forum in Davos, Switzerland, where about 1,500 of the world leaders in politics, business and finance come together each year.

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“The gap between rich and poor can’t be resolved without deliberate inequality-busting policies, and too few governments are committed to these,” Oxfam India CEO Amitabh Behar, who is in Davos to represent the Oxfam confederation this year said.

Oxfam noted that number of billionaires in the world has doubled in the last decade.

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“Our broken economies are lining the pockets of billionaires and big business at the expense of ordinary men and women. No wonder people are starting to question whether billionaires should even exist,” Behar said.

The report also noted gender disparities in the world economy. For example, it found the 22 richest men in the world have more wealth than all the women in Africa. The report said that women and girls put in 12.5 billion hours of unpaid care work each and every day around the globe —a contribution to the global economy of at least $10.8 trillion a year, more than three...
(Excerpt) Read more at: MarketWatch
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