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, reveals the Oxfam report, “Survival of the Richest.” During the past decade, the richest 1 percent had captured around half of all new wealth.

Key findings include:

  • Super-rich outstrip their extraordinary grab of half of all new wealth in past decade. 

Billionaire fortunes are increasing by $2.7 billion a day even as at least 1.7 billion workers now live in countries where inflation is outpacing wages.

 -A tax of up to 5 percent on the world’s multi-millionaires and billionaires could raise $1.7 trillion a year, enough to lift 2 billion people out of poverty.

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