Dramatic increase in dollar billionaires during the pandemic – VG

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The pandemic has so far created around 573 new dollar billionaires, which is equivalent to one new dollar billionaire every 30 hours.

It appears in an Oxfam report, discussed by, among others CNN. Oxfam is an international, non-governmental organization that works to combat poverty and inequality.

The report looks at inequality over the past two years, and concludes that the net worth of dollar billionaires has increased by a total of $ 3.8 trillion – 42 percent – to $ 12.7 trillion.

12.7 trillion US dollars is equivalent to 123 trillion Norwegian kroner.

A large part of the increase, according to CNN, is driven by upturns in the stock markets, as a result of governments around the world pumping money into their countries’ economies in the form of corona support, to mitigate the economic consequences of the pandemic.

The report is presented at the same time as the world’s richest is gathered during the World Economic Forum’s annual summit in Davos, Switzerland.

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UN summit with food prayer

At the same time, ordinary consumers around the world are affected by sky-high costs for energy and food, partly as a result of the war in Ukraine.

The growing inequality and increase in food prices are among the factors that, according to Oxfam, can drive up to 263 million people into poverty during the year.

– I have never seen such a dramatic growth in poverty and increasing wealth at the same time in history. It will hurt many people, says Oxfam’s head of inequality policy, Max Lawson, in a statement quoted by CNN.

Several places in the world are now threatened by famine disasters, and at the meeting in Davos, the leader of the UN Food Program (WP) David Beasley, used the opportunity to ask the world’s richest people to contribute to food security, writes NTB.

– It is time for the billionaires to face the global threat to food security.

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Beasley also referred to a message exchange with Elon Musk on social media last year, in which the Tesla boss said he would sell shares for 6 billion dollars and give the money to the UN food program, if they could describe how the money could end world hunger.

Since then, Musk has invested $ 6 billion in a foundation. Everyone thought the money came to us, but we have not seen the trick of it. But I still hope, says Beasley to the news agency AP.

The UN leader also said he would reach out to other billionaires.

– The world is in real trouble. This is not rhetoric or p *** sermon. You have to line up now, because the world needs you, says Beasley.

Wants tax scheme for «super-rich»

Oxfam now demands that the authorities tax the richest extreme, and advocates, among other things, a temporary scheme where the world’s richest companies tax 90 percent of the profits, in addition to a one-time tax on the billionaires’ wealth.

At the same time, the organization proposes a permanent wealth tax of 2 percent on assets over five million dollars, and five percent on net wealth over a billion.

This could raise $ 2.5 trillion worldwide, writes CNN.

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