Oxfam report says richest 1% of the world will own more than the other 99% by 2016

SHAFAQNA (Shia International News Association) – Oxfam Executive Director, Winnie Byanyima said: “The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast.”

The richest one percent’s share of global wealth increased from 44 percent in 2009 to 48 percent in 2014, the British charity said in a report, adding that it will be more that 50 percent in 2016. According to Oxfam the average wealth per adult in this group is $2.7 million.

Byanyima urged leaders to take on “vested interests that stand in the way of a fairer and more prosperous world.”



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