New estimates show that just eight men own the same wealth as the poorest half of the world. As growth benefits the richest, the rest of society – especially the poorest – suffers. Our economy must stop excessively rewarding those at the top and start working for all people.
The richest 1% now have more wealth than the rest of the world combined. The fight against poverty will not be won until the inequality crisis is tackled.
Global wealth is increasingly concentrated in the hands of a small wealthy elite. This briefing explains Oxfam’s methodology and data sources and updates key inequality statistics.
Almost half of the world’s wealth is now owned by just one percent of the population, and seven out of ten people live in countries where economic inequality has increased in the last 30 years.
