By 2016 the richest 1% of the world’s population will own more than 50% of the world’s wealth, says Oxfam’s recent report on global wealth inequality. Winnie Byanyima, Executive Director of Oxfam International, said: "Do we really want to live in a world where the one percent own more than the rest of us combined?
Clearly, the scale of global inequality is quite simply staggering and the gap between the richest and the rest is widening fast.
Credit Suisse data, on which the Oxfam reports is based on, shows that the share of the richest 1% in the global wealth has been increasing consistently since the year 2009. In the period between 2009 and 2014, the top 1% have increased their share from 44 percent to 48.2 percent. Based on this trend, by 2016 the top 1% will own more wealth than the rest 99% of the world population.
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