The gap between the super rich and the rest of the world widened as wealth continued to be owned by a small minority, according to Oxfam report.
The world’s richest one percent raked in 82 percent of the wealth created last year while the poorest half of the population received none, Oxfam said Monday, as the world’s elite prepared to mingle at the World Economic Forum in Davos.
A new report from the charity also found that the wealth of billionaires has grown six times faster than that of ordinary workers since 2010, with another billionaire minted every two days between March 2016 and March 2017.
The report, titled “Reward Work, not Wealth”, used data from Credit Suisse to compare the returns of top executives and shareholders to that of ordinary workers.
It found that chief executives of the top five global fashion brands made in just four days what garment workers in Bangladesh earn over a lifetime.