The wealth of the world’s billionaires will increase by $2 trillion in 2024, which equates to approximately $5.7 billion per day. The growth rate is three times higher than the previous year.
Oxfam’s latest annual inequality report reveals that the world is now on track to create five trillionaires within 10 years.
Meanwhile, the number of people still living in poverty (about 3.5 billion) has changed little since 1990, according to the World Bank.
wealth
The report warns that progress in reducing poverty could slow or stall and extreme poverty could end three times faster if inequality is reduced.
In the Oxfam report, takers are not makers We are calling for bold solutions to fundamentally reduce inequality and build equity into our economy. The book was published as business elites gathered in the Swiss resort of Davos and Donald Trump was sworn in as US president.
This ever-increasing concentration of wealth is made possible by the monopolistic concentration of power that billionaires increasingly wield over industry and public opinion.
In 2024, the number of billionaires will increase to 2,769, up from 2,565 in 2023. Their combined wealth has soared from $13 trillion to $15 trillion in just 12 months. This is the second largest annual increase in billionaire wealth since records began.
The wealth of the world’s 10 richest men grows by almost $100 million a day on average, and even if they lost 99 percent of their wealth overnight, they would still be millionaires Probably.
super rich
The total wealth of Britain’s billionaires rose by £35 million (about $44 million) a day last year to reach £182 billion (about $231 billion), covering the city of Manchester by almost 1.5 times in a 10-pound note. I’ve reached the point where I can. Last year, four new billionaires were created, bringing the current total to 57.
Anna Marriott, Oxfam’s head of inequality policy, said: “Last year we predicted that the first billionaire would be created within 10 years, but this shocking acceleration in wealth means that the world will be at least five years It means we are on track for the future.”
“The global economic system is broken and totally unfit for purpose, enabling and perpetuating this explosion of wealth while almost half of humanity continues to live in poverty.
“The UK Government should prioritize economic policies that reduce inequality and, crucially, start supporting higher taxes on the super-rich. Huge sums of money could be raised to provide significant investment.”
It added: “With the landmark G20 agreement to work together on taxing the world’s ultra-wealthy, there is for the first time real momentum building for fairer taxation globally. We should champion this opportunity to help build society.” ”
colonialism
This report examines unjust wealth and colonialism, understood not only as a history of brutal wealth exploitation, but also as a powerful force behind today’s extreme levels of inequality. I am. This study highlights that, contrary to popular belief, most of the wealth of billionaires is out of reach.
