‘World’s richest 1% get 82% of the wealth’, says Oxfam

Source: BBC News

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The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed.

Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said.

Oxfam said its figures – which critics have queried – showed a failing system.

It blamed tax evasion, firms’ influence on policy, erosion of workers’ rights, and cost cutting for the widening gap.

Oxfam has produced similar reports for the past five years. In 2017 it calculated that the world’s eight richest individuals had as much wealth as the poorest half of the world.

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Categories: Finance, The Muslim Times

1 reply

  1. God already described that only few people will receive God’s paradise on earth and the Next.
    Most people will go to Hell in earth and the Next.

    All our❤️

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