#Coronavirus #SuperRich #Rich #Poor #STATISTICS
The pandemic has worsened inequality, as the world's richest have made massive gains while the world's poor have fallen further behind, a new Oxfam report called 'The Inequality Report' finds.
The pandemic has worsened inequality, as the world's richest have made massive gains while the world's poor have fallen further behind, a new Oxfam report called 'The Inequality Report' finds.
During the pandemic, the combined wealth of the world's ten richest men rose by $540 billion. A stock market collapse during the first months of the pandemic saw the ultra-wealthy experience dramatic reductions in their wealth. Nevertheless, that setback was short-lived,
and the fortunes of the top 1,000 billionaires returned to their pre-pandemic highs within nine months. Worldwide, between March 18 and December 31, 2020, the wealth of billionaires increased by $3.9 trillion. Their total wealth is now $11.95 tn,
which is equivalent to what the G20 governments spent in response to the pandemic. The report stated that the value of Amazon CEO Jeff Bezos had risen so much between March and September 2020 that he could have given a $105,000 bonus to all 876,000 Amazon employees and
would still have retained his pre-pandemic wealth. Meanwhile, recovery could take 14 times longer, or more than a decade, for the world's poorest.
In 2020, Oxfam estimates that between 200 million and 500 million more people will be living in poverty, reversing the decline in global poverty seen over the last two decades.
The Inequality report by Oxford as PDF file: oxfamilibrary.openrepository.com/bitstream/hand…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
