Richest 1 percent will own more than the rest by 2016: Oxfam

Richest 1 percent will own more than the rest by 2016: Oxfam

LONDON Mon Jan 19, 2015 5:02am EST

http://www.reuters.com/article/2015/01/19/us-davos-meeting-inequali...

(Reuters) - More than half the world's wealth will be owned by just one percent of the population by next year as global inequality soars, anti-poverty charity Oxfam said on Monday

In a report released ahead of this week's annual meeting of the international elite at Davos in Switzerland, Oxfam said the top tier had seen their share of wealth increase from 44 percent in 2009 to 48 percent in 2014.

On current trends, it will exceed 50 percent in 2016.

The charity's executive director, Winnie Byanyima, who is co-chairing the World Economic Forum meeting in Davos, said an explosion in inequality was holding back the fight against poverty.

"Do we really want to live in a world where the one percent own more than the rest of us combined?" she said on Monday.

"Business as usual for the elite isn't a cost free option. Failure to tackle inequality will set the fight against poverty back decades. The poor are hurt twice by rising inequality -- they get a smaller share of the economic pie and because extreme inequality hurts growth, there is less pie to be shared around."

Oxfam said it would call for action to tackle rising inequality at the Davos meeting, which starts on Wednesday, including a crackdown on tax dodging by corporations and progress toward a global deal on climate change. 

The richest 80 individuals in the world had the same wealth as the poorest 50 percent of the entire population, some 3.5 billion people, Oxfam said. This was an even bigger concentration at the top than a year ago, when half the world's wealth was in the hands of 85 of the ultra rich. 

Members of the top 1 percent had an average wealth of $2.7 million per adult, Oxfam said. 

The bulk of the world's remaining wealth was owned by the rest of the richest fifth, while the other 80 percent shared just 5.5 percent of the pot, equaling an average wealth of $3,851 per adult, it said.

Oxfam used data from the Credit Suisse Global Wealth Datebook, 2013 and 2014, and the Forbes' billionaires list to compile its research.

(Reporting by Paul Sandle; Editing by Crispian Balmer)

Views: 41

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Burbia posted a blog post

Is the Timing of Alex Jones and Charlie Sheen Connected?

Alex Jones is sperging out.Charlie Sheen is coming out of the closet.Is this why Alex Jones is…See More
yesterday
Doc Vega posted a blog post

Buying the Last haunted House on the Left (A partial autobiography)

Note to the reader, there are events here that are true and some that are fictional.Chapter IIt was…See More
Friday
Doc Vega posted a blog post

In Memory of Those Who Served

 Bullets flew and ricochetedI was on that hill todayMy Company commander got blown awayI was on…See More
Thursday
Doc Vega posted blog posts
Tuesday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,  A size…"
Tuesday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Cheeki kea here's another that they say there have been modern sightings of!  The name of…"
Tuesday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea, did you ever hear of the giant Imperial Penguins? They were about 6 feet tall and could…"
Tuesday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I do not think these giant two legged birds would need to have a bad attitude as long as…"
Tuesday
Olivia Brooks updated their profile
Tuesday
John Miller was featured
Tuesday
tjdavis's 2 blog posts were featured
Tuesday
Zfort Group's blog post was featured
Tuesday
Doc Vega's 6 blog posts were featured
Tuesday
Burbia commented on tjdavis's video
Thumbnail

“What’s His Motive?” - Inside The Mind of George Soros

"Trump calls for George Soros and son to face federal…"
Tuesday
Burbia commented on tjdavis's photo
Tuesday
Profile IconSeeta Sathe and Olivia Brooks joined 12160 Social Network
Tuesday
tjdavis posted a video

Mossad, Terrifying CIA Technology, Blackwater & The Most Secret CIA Unit | John Kiriakou

John Kiriakou served 15 years in the CIA as a Case Officer (Spy) and as CIA's Head of Counterterrorism Operations in Pakistan where he lead the raid that cap...
Sep 1
tjdavis posted a photo
Sep 1
tjdavis posted a video

A Critique of the Tavistock Institute - The Mother Of All Conspiracy Theories

An examination of the Tavistock Institute, a theory which seeks to explain how Western societies have been brainwashed by a cabal of social scientists and th...
Aug 31
tjdavis posted a video

“What’s His Motive?” - Inside The Mind of George Soros

In this short clip, Patrick Bet-David, Sebastian Gorka Adam Sosnick, and Tom Ellsworth George Soros and what motivates him to do the things he does. FaceTime...
Aug 27

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted