Wealth inequality has grown to the stage where 62 of the world’s richest people own as much as the poorest half of humanity combined, according to a new report.
The research, conducted by the charity Oxfam, found that the wealth of the poorest half of the world’s population – 3.6 million people – has fallen by 41 per cent, or a trillion US dollars, since 2010.
While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion dollars to $1.76 trillion.
The report, "An Economy for the 1%", says the gap between the global richest and the global poorest has widened in just the last 12 months.
In 2011, 388 people had the same wealth as the poorest half of humanity. In 2011, this fell to 177. The number has continued to fall each year to 80 in 2014 and 62 in 2015.
Please click here to read more.