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For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

An Oxfam-commissioned survey reveals that sixty percent of rape victims were gang raped. More than half of the assaults took place in their own homes. There has also been a shocking increase in the number of civilian rapists.

The EU’s five richest billionaires increased their wealth by 76 percent since 2020, from 244 billion euro to 429 billion, at a rate of 5.7 million euros per hour, Oxfam reveals today. At the same time, 99 percent of the EU’s population has become poorer. These findings are based on Oxfam’s new report on inequality and global corporate power. The report also reveals that if current trends continue, the world will have its first trillionaire within a decade, but poverty will not be eradicated for another 229 years. 

The Congolese government’s military operation in eastern Congo, Kimia II, backed by UN peacekeepers and aimed at neutralizing the threat from a Rwandan Hutu militia group, the FDLR, has resulted in an unacceptable cost for the civilian population.

An international coalition of human rights law groups, public health experts, and civil society organisations is taking legal action against the US, UK, Germany, Norway, and Switzerland, on the grounds that these countries are in violation of international human rights law by failing to intervene on what has been an inequitable and racially discriminatory rollout of the vaccine and other COVID healthcare technologies.   

Major European supermarkets have upped their dividend payouts to shareholders by an average of 123 percent during the first eight months of the pandemic. Shockingly, hardly any of these supermarkets paid any substantial COVID-19-related support to the workers and farmers who throughout the crisis kept supply chains going.

Oxfam - as part of a global coalition of 223 civil society organizations - urgently calls upon UN member states to step in and request an Emergency Special Session of the UN General Assembly to demand an end to all unlawful attacks in Aleppo and elsewhere in Syria.

Many people are still trapped in captivity and suffering abuses in Libya a year after Italy struck an EU-backed deal with the government to stop irregular migrants. Migrants who have managed to escape Libya following the deal have told Oxfam and its partner Borderline Sicilia of on-going kidnapping, murder, rape and forced labor.

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.

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