Sunday, January 26, 2014

85 richest people worth over $1.6 trillion



The world's 85 richest people possess the equivalent wealth of the world's 3.5 billion poorest combined.

The remarkable divide between the world's richest and poorest people has been highlighted in a new damning report from Oxfam which is attempting to emphasize the extent to which the planet's wealth is controlled by a small 'global elite'.

"It is staggering that in the 21st Century, half of the world's population – that's three and a half billion people – own no more than a tiny elite whose numbers could all fit comfortably on a double-decker bus," said Oxfam executive director Winnie Byanyima.

The growing problem of wealth distribution is one of the issues Oxfam believes needs to be tackled before a proper solution to poverty can be found. "Widening inequality is creating a vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest of us to fight over crumbs from the top table," said Byanyima.

It is believed that the richest 1% of the world's population control more than $110 trillion, a total equating to 65 times that of the poorest 50%