Davos: The richest 1 per cent people in the world will soon have more wealth than the remaining 99 per cent of the global population, says a report.
The Oxfam report today came ahead of the annual World Economic Forum meeting in Davos.
The international agency, whose executive director Winnie Byanyima will co-chair the Davos event, said the explosion in inequality is holding back the fight against global poverty at a time when 1 in 9 people do not have enough to eat and more than a billion people still live on less than USD 1.25 a day.
According to the report by worldwide development organisation Oxfam, in 2014, 85 rich individuals held more wealth than the poorest half of the world’s population — 3.5 billion people.
Now, a year later, that figure has become more extreme—
80 billionaires have the same amount of wealth as the bottom half of the planet.
