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This amount is twice what it was in 2020 and seven times higher than in the year 2000. The report also highlights that the increase in wealth among the wealthiest individuals last year was three times faster than the average rate of increase over the past five years.
Moreover, for the first time, the number of billionaires globally has surpassed 3,000.
The report points out that the 12 richest people in the world together hold more wealth than the combined wealth of the poorest half of the world's population.
This situation has come about amid a "dangerous shift in the distribution of political power," as Oxfam points out. The organization notes that billionaires are 4,000 times more likely to hold political office compared to ordinary people. According to Oxfam’s data, the ultra-wealthy use their influence to shape economic, political, and social conditions in ways that benefit themselves, while nearly half of the world's population lives in poverty.
Oxfam also states that billionaires use their wealth to "purchase political influence" and support authoritarian regimes.
source: oxfam.org
Moreover, for the first time, the number of billionaires globally has surpassed 3,000.
The report points out that the 12 richest people in the world together hold more wealth than the combined wealth of the poorest half of the world's population.
This situation has come about amid a "dangerous shift in the distribution of political power," as Oxfam points out. The organization notes that billionaires are 4,000 times more likely to hold political office compared to ordinary people. According to Oxfam’s data, the ultra-wealthy use their influence to shape economic, political, and social conditions in ways that benefit themselves, while nearly half of the world's population lives in poverty.
Oxfam also states that billionaires use their wealth to "purchase political influence" and support authoritarian regimes.
source: oxfam.org