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The fortunes of the world's five richest people have doubled since 2020, while the poor are getting worse.

The fortunes of the world's five richest people have doubled since 2020, while the poor are getting worse.

January 15, 2024 – 09:48

From 2020 to date, the world's five richest people have doubled their wealth, now reaching $869 billion (301,021,600,000,000 forints), while the poorest sixty percent of the world – about five billion people – continue to get poorer, As L. writes guardian In reference to Oxfam's recent report. According to the organization's forecasts, the wealth of the rich will grow at a rate at which the first trillionaire will be born within a decade, the gap between the rich and the poor will expand further, and it is expected that there will be poor people on Earth for another 229 years.

Highlighting the significant rise in inequality since the Covid-19 pandemic, Oxfam reported that the world's billionaires are $3.3 trillion richer than they were in 2020, with their wealth growing three times faster than inflation.

“People around the world are working harder and longer, often in precarious jobs for lower wages,” the report said. “The average real wage has fallen for about 800 million workers in 52 countries. These workers have lost a total of $1.5 billion over the past two years, which equates to 25 days of lost wages per worker.

According to the report, the world's 148 largest companies recorded combined net profits of $1.8 trillion in the year to June 2023, a 52 percent jump from the average net profit in the 2018-2021 period.

Aleema Shivji, interim chief executive of Oxfam, said the widening gap between the rich and the rest was neither accidental nor inevitable. “Governments around the world are making conscious policy decisions that enable and encourage this skewed concentration of wealth while hundreds of millions of people live in poverty. A fairer economy that benefits us all is possible. We need coordinated policies that provide fairer taxes and support for everyone, not just the privileged.” “.

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