Did you know the richest

1%

of the world have generated almost twice as much wealth as the remaining 99% since 2020? 

The Full Story

"Richest 1% grabbed nearly two-thirds of all new wealth"

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According to Oxfam International research paper,  "Survival of the Richest":

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"The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population..."

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Since 2020, for every dollar of new global wealth gained by someone in the bottom 90%, one of the world’s billionaires has gained $1.7m.

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Global poverty worst in decades

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World Bank's latest "Poverty and Shared Prosperity" report declared that the 2020 global pandemic:

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• triggered the most pronounced setback in the fight against poverty since 1990, and most likely since World War II

• reversed decades of global poverty reduction

• created 71 million more people living in extreme poverty—an 11 percent increase over 2019

• doubled the predicted poverty rate by 2030 (from 3% to 7%)

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Debt and inflation

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An estimated 1.7 billion workers worldwide had inflation outpace their wages in 2022, cutting their ability to buy food and keep lights on.

Meanwhile, debt payments are quickly growing out of control and entire nations are facing bankruptcy.

"The poorest countries are spending four times more repaying debts – often to predatory, rich, private lenders – than on healthcare." – Oxfam, Jan. 2023

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At the same time, the ultra rich are grabbing up more wealth at a faster rate than ever and since 2020 billionaire fortunes have increased by $2.7 billion a day.