The world’s 26 richest people own the same wealth as the poorest half of humanity, a new report by Oxfam said today, urging governments to hike taxes on the wealthy to fight soaring inequality. This report published ahead of the World Economic Forum in Davos, also found that billionaires around the world saw their combined fortunes grow by $2.5 billion each day in 2018.
The world’s richest man, Amazon CEO Jeff Bezos, saw his fortune increase to $112 billion last year, Oxfam said, pointing out that just one percent of his wealth was the equivalent to the entire health budget of Ethiopia, a country of 105 million people.
Guest: Thembinkosi Dlamini - Manager of Economic Justice and Oxafam South Africa