World Richest 1% Made 82% of Global Wealth in 2017 – Oxfam

Oxfam has revealed that 1 percent of world’s richest people controlled 82 percent of the global wealth in 2017.

According to the report, half of the population in the wealth did not make any wealth as 42 percent of them struggled to leave without a meal.

“Last year we saw the biggest increase in billionaires in history, one more every two days,” read the report.

Oxfam says that the number of billionaires in the world grew six times faster than that of ordinary workers since the year 2010 with a billionaire being created every two days.

“The huge increase in billionaires could have ended the global extreme poverty seven times over,” said the report. According to the report, if the wealth created by the one percent would have been distributed, 50 percent of the world’s population would be rich.

“82 percent of all wealth created in the last year went to the top 1 percent and nothing went to the bottom 50 percent,” stated Oxfam.

According to Oxfam, the world’s richest one percent used poor workers by paying them poorly to create wealth for themselves.

“Dangerous, poorly paid work for the many is supporting extreme wealth for the few,” stated the report.

The report further pointed out that women are in the worst work, and almost all the super-rich is men. The report says that “governments must create an equal society by prioritizing ordinary workers and small-scale food producers instead of the rich and powerful”.

The report comes even as top political and business figures converge at a meeting at a luxury Swiss Ski Resort for the annual World Economic Forum which ironically, is set to tackle the theme “a shared future in a fractured world.”

READ The Poorest People in the World.

A great percentage of the world’s poorest come from Africa. According to World Bank, the poorest people on earth come from Burundi while Africa is the unequal society in the world.