Report: 1% of the world’s super rich have accumulated 63% of new wealth in two years

[January 17, 2023](Compiled and reported by Epoch Times reporter Takasugi)OxfamIn the past two years, all newly createdwealthNearly two-thirds of the world’s wealth is concentrated in the hands of the richest 1% of people in the world.

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Oxfam(Oxfam) reports that since 2020, a total of $42 trillion in newwealthof which $26 trillion, or 63%, is made up of the top 1% of wealthrich manthey accumulated. The remaining 99 percent of the global population has only gained $16 trillion in new wealth, says the global poverty charity.

The report, released as the World Economic Forum kicked off in Davos, Switzerland, said: “Whenever the bottom 90% of the wealth pyramid earn a dollar of new global wealth, There was one billionaire who got about $1.7 million.”

This points to an accelerated pace of wealth creation, as the world’s richest 1% accumulated about half of all new wealth over the past 10 years.

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The Oxfam report analyzed global wealth creation data from Credit Suisse, Forbes Billionairesrich manlist and its real-time data to assess changes in the wealth of the super-rich.

The study also compared this wealth creation data with World Bank reports. The World Bank said in October 2022 that it is likely to miss its goal of eradicating extreme poverty by 2030 as the COVID-19 pandemic slows efforts to eradicate poverty.

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Gabriela Bucher, executive director of Oxfam International, called for higher taxes on the super-rich, saying it was “a strategic prerequisite for reducing inequality and restoring democracy”.

In a press release for the report, she also said changes to tax policy would help address the ongoing crisis around the world.

“Taxing the super-rich and big corporations is the door to solving the multiple crises we are facing today,” Bucher said. “It’s time for us to get rid of the ‘tax cuts for the richest that lead to their wealth being in a certain way. way ‘trickle down’ to other people’s myths’.”

The crises that broke out simultaneously in different parts of the world are affecting each other. The dilemmas that arise together are greater than those produced individually, also known as “multiple crises.” In recent weeks, researchers, economists and politicians have argued that the world is now facing such a “multiple crisis” as a cost-of-living crisis, climate change and other pressures collide.

Responsible Editor: Ye Ziwei#