The richest 1 percent in the world earned almost twice as much as the rest in the last two years, according to a report by the organization Oxfam.
The organization published its annual inequality report on Monday, the same day as the World Economic Forum (WEF) kicks off in Davos.
The very richest have only gotten richer while many have struggled with increased living costs as a result of the corona pandemic and then Russia’s warfare against Ukraine, according to the report.
While at least 1.7 billion people are in jobs where prices are growing faster than wages, billionaires’ fortunes are growing by $2.7 billion per day, according to Oxfam. This corresponds to almost NOK 27 billion.
– While ordinary people have to make difficult choices about essential things such as food on a daily basis, the super-rich exceed their wildest dreams, says Oxfam director Gabriela Bucher.
– After two years, this decade is likely to be the best yet for the billionaires – like the happy 20s for the world’s richest, she adds.
While the increased costs are bad news for consumers, they have caused the food and energy companies to more than double their revenues in 2022. This allowed them to pay out $257 billion to shareholders.
The development is bound to turn around, says Germany’s Development Minister Svenja Schulze.
– Pandemics, conflicts and not least the Russian war of aggression have taken us several years backwards in terms of poverty, hunger, health and education, while the richest have become even richer, she says.
– If we do not reduce inequality on a global level, we will not be able to solve those crises, she adds.
