80% of the World’s Wealth Went to Just 1% of People in 2018

Income inequality is a global issue, perhaps even deadliest than the global warming. The latest figures as reported by Oxfam International says that only 1% of the world’s population owns the 80% of the total wealth.

The organization worked with World Economic Forum (WEF) and here are the findings.

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  • Billionaire wealth has risen by an average of 13% since 2010, although, worker wealth has risen by only 2%.
  • Between the month of March in 2016 and 2017, the number of billionaires rose at one each day.
  • A CEO of an high class international fashion brand earns in just four days what a Bangladeshi garment worker will earn in their entire lifetime.
  • In the US, a corporate CEO earns in one day what an ordinary worker makes in a full year.
  • Only 1.5% of global billionaires’ tax could send every child to school for free.

The report also factors in the income in-equality for women and according to Oxfam, Governments need to ensure that economies work for everyone.

Via: ProPakistani

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Written by Hisham Sarwar


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