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Just 62 people now own the same wealth as half the world's population, research finds
Key Excerpts from Article on Website of The Independent (One of the UK's leading newspapers)
Posted: January 25th, 2016
http://www.independent.co.uk/news/world/politics/just-62-peo...
Wealth inequality has grown to the stage where 62 of the worlds richest people own as much as the poorest half of humanity combined. The [new] research, conducted by the charity Oxfam, found that the wealth of the poorest half of the worlds population 3.6 billion people has fallen by 41 per cent, or a trillion US dollars, since 2010. While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion dollars. The report, An Economy for the 1%, says the gap between the global richest and the global poorest has widened in just the last 12 months. In 2010, 388 people had the same wealth as the poorest half of humanity. In 2011, this fell to 177, [and] has continued to fall each year. Oxfam GB chief executive Mark Goldring said a crackdown on global tax havens was a necessary step towards ending the rampant global inequality. "World leaders concern about the escalating inequality crisis has so far not translated into concrete action to ensure that those at the bottom get their fair share of economic growth. We need to end the era of tax havens which has allowed rich individuals and multinational companies to avoid their responsibilities to society," [he said].
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