TV News LIES

Monday, Jul 24th

Last update05:20:13 AM GMT

You are here News Economy 85 richest people own 46% of world's wealth

85 richest people own 46% of world's wealth

E-mail Print PDF

wealthResearch conducted by the British charity Oxfam has concluded that the combined wealth of the world's 85 richest people is equivalent to that owned by the bottom half of the world's population.

Separately, the report, titled "Working for the Few," claims that the richest 1% on the planet — more than the 85 people whose bounty is comparable to the collective wealth of the poorest half — are rich to the tune of $110 trillion. "The top 1% have 65 times the total wealth of the bottom half of the world's population," the study says.

"This capture of opportunities by the rich at the expense of the poor and middle classes has helped create a situation where seven out of every 10 people in the world live in countries where inequality has increased since the 1980s and 1 percent of the world's families now own 46% of its wealth ($110 trillion)," Oxfam said in a statement announcing the study, published ahead of this week's annual meeting of the World Economic Forum in Davos, Switzerland.

The WEF has identified income inequality as one of the greatest risks facing the world in 2014.

More...


Most Recent Related Stories...


JPMorgan Whistle-Blowers Set to Reap Record $61 Million Bounty

JP Morgan whitleblowersTwo whistle-blowers are set to share a record $61 million award from the Securities and Exchange...

Study: ‘Buy America’ rules raising costs for US transit systems

Buy America increases prices of mass transitFederal requirements to buy American-made products may be forcing some U.S. transit systems to spend more...

CBO rejects Trump's claim that budget plan would eliminate deficit

Trump budgetThe Congressional Budget Office cast doubt Thursday on the White House’s claim that President Trump’s proposed...

Ascena closing up to 650 clothing stores including Dress Barn

Ascena to close 650 storesBetween 250 and 650 retail stores including Ann Taylor, Dress Barn, Loft and Lane Bryant are...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!