Oxfam report finds the ultra-rich are still getting richer as 5 billion people become poorer

Eldonita de Ed Newman
2024-01-17 13:55:35

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London, January 17 (RHC)-- As world leaders are gathering in Davos, Switzerland, for the World Economic Forum, Oxfam issued a new report showing that the world’s five richest billionaires have seen their wealth double over the past four years while 5 billion others have become poorer. 

Oxfam is predicting the world could have its first trillionaire in a decade. 

Oxfam’s interim executive director, Amitabh Behar, spoke in Davos.   Amitabh Behar: “I certainly feel angry.  You know, I would say having billionaires is a failure.  Very often when we’re here at the World Economic Forum, you end up celebrating billionaires.  But I think it’s a sign of failure that we have 800 million people — 10% of the global population — sleeping hungry.  They do not have enough food to eat, 800 million people.  And on the other hand, you have these billionaires with their private yachts, private jets and a lifestyle which cannot even be understood.”



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