REPORT: RICHEST 1% WILL OWN 50% OF WORLD’S WEALTH BY NEXT YEAR

January 19, 2015

A new report from the anti-poverty charity Oxfam found that if current trends continue, the richest one percent globally will own more than 50 percent of the world’s wealth by next year.

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The research shows that the share of the world’s wealth owned by the global one percent has increased from 44 percent in 2009 to 48 percent in 2014, while the poorest 80 percent globally own just 5.5 percent of the world’s wealth.

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Oxfam International executive director Winnie Byanyima said the increased concentration of wealth seen since the Great Recession of 2008-09 is dangerous and needs to be reversed.

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