Tuesday , March 31 2020

World’s 26 richest own same as poorest half of humanity

According to survey it is said that world’s 26 richest people own the same wealth as the poorest half of humanity, Oxfam said Monday, urging governments to put taxes on wealthy.

A report published ahead of the World Economic Forum in Davos, said that billionaires around the world saw their combined fortunes grow at the rate of $2.5 billion per day in 2018.

The world’s richest man, Amazon CEO Jeff Bezos, saw his money increased to $112 billion last year , Oxfam said. It was said that just one percent of his whole wealth is equal to the entire health budget of Ethiopia which is a country of 105 million people.

The people who live under poverty line are numbered to 3.8 billion and saw their wealth decreased by 11% over the last year. Oxfam stressed that this growing bridge between the rich and poor is so huge and will eventually create social problems. This is sufficient to damage economy and felling public anger. he also said that poverty has become impossible to fight seeing the huge gap between rick and poor.

“People across the globe are angry and frustrated,” warned Oxfam executive director Winnie Byanyima is his recent statement.

Between 1980 and 2016, the poorest half of humanity just bagged 12 cents on each dollar of global income growth, compared with the 27 cents captured by the top one percent, the report found.

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