Saturday, May 21, 2022

Oxfam: 10 richest people in the world have doubled their wealth during the Kovid pandemic

The world’s 10 wealthiest people have doubled their fortunes during the first two years of the coronavirus pandemic, a report said on Monday, as poverty and inequality soared.

Men’s wealth rose from $700 billion to $1.5 trillion at an average rate of $1.5 trillion per day, Oxfam said in a briefing published ahead of a virtual mini-summit of world leaders to be held under the auspices of the World Economic Forum. .

Oxfam, a consortium of charities focused on reducing global poverty, said the wealth of billionaires during the pandemic rose more than in the previous 14 years, when the world economy was facing the worst recession since the Wall Street crash of 1929. Was getting it done.

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It called this inequality “economic violence” and said lack of access to health care, gender-based violence, hunger and climate change contributed to 21,000 deaths every day.

The pandemic has plunged 160 million people into poverty, with non-white ethnic minorities and women bearing the brunt of the effects in the form of inequality.

The report follows a December 2021 study by the group that found that the share of the world’s richest people in global wealth grew at a record pace during the pandemic.

Oxfam urged tax reforms around the world to help save lives, including vaccine production, as well as a reduction in health care, climate adaptation and gender-based violence.

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The group said it based its wealth calculations on the most up-to-date and comprehensive data sources available and uses a list of 2021 billionaires compiled by the US business magazine Forbes.

Forbes lists the world’s 10 richest men: Tesla and SpaceX chief Elon Musk, Amazon’s Jeff Bezos, Google founders Larry Page and Sergey Brin, Facebook’s Mark Zuckerberg, Microsoft’s former CEO Bill Gates and Steve Ballmer, Oracle Former CEO of Larry Ellison, American investor Warren Buffet and the head of French luxury conglomerate LVMH Bernard Arnault.

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This article is republished from – Voa News – Read the – original article.

Nation World News Desk
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