WEF

The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion —at a rate of $15,000 per second or $1.3 billion a day— during the first two years of a pandemic that has seen the incomes of 99 percent of humanity fall and over 160 million more people forced into poverty. 

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today. ‘The Inequality Virus’ is being published on the opening day of the World Economic Forum’s ‘Davos Agenda’. 

Oxfam’s new report, ‘The Inequality Virus’, reveals that the wealth of the ten richest men has increased by half a trillion dollars since the pandemic began - more than enough to pay for a vaccine for all and prevent anyone on Earth from falling into poverty because of the virus.  We have received lots of great questions about the report − here’s our answer to the 10 most frequently asked questions.

World Economic Forum’s Human Capital Report demonstrates the need for a massive increase in funding for public education to close the growing gap between rich and poor and build a workforce that is fit for the future. 

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

Inequality is a killer, contributing to the deaths of at least one person every four seconds. It makes our world less safe for all of us — and particularly for the poorest people, women and racialized groups. This is not by chance, but by choice. For a more equal future, we must fight inequality together.

Africa is losing billions to corruption, poorly negotiated deals and tax dodging. Leaders must listen to their people. They must crack down on tax dodging and maximize progressive revenues to create a more human economy for Africa.

G7 based companies and investors cheated Africa out of an estimated US$6 billion in 2010 through just one form of tax dodging, according to a new Oxfam report ‘Money talks: Africa at the G7’, released today.