• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home News

World’s ten richest men doubled wealth in pandemic, Oxfam says

Meanwhile Covid has plunged more people into poverty, the charity said in a new report.

Henry Goodwin by Henry Goodwin
2022-01-17 10:12
in News
Credit;PA

Credit;PA

FacebookTwitterLinkedinEmailWhatsapp

The pandemic has made the global superrich much richer – but plunged more people into poverty, according to Oxfam.

Lower incomes for the world’s poorest contributed to the death of 21,000 people each day, a new report by the charity claims.

Meanwhile the world’s ten richest men have more than doubled their collective fortunes since March 2020, Oxfam said.

The charity usually releases a report on global inequality to coincide with the start of the World Economic Forum meeting in Davos, an event which sees thousands of corporate and political leaders, celebrities and economists gather for a glittering event in the Swiss ski resort.

But for the second year running, the meeting will be online-only after the emergence of the Omicron variant scuppered plans.

‘Off the scale’

Discussions taking place this week will include the likely future of the pandemic, vaccine inequality and the energy transition.

Danny Sriskandarajah, Oxfam GB’s chief executive, said: “This year, what’s happening is off the scale.

“There’s been a new billionaire created almost every day during this pandemic, meanwhile 99 per cent of the world’s population are worse off because of lockdowns, lower international trade, less international tourism, and as a result of that, 160 million more people have been pushed into poverty.

“Something is deeply flawed with our economic system.”

RelatedPosts

Today’s papers show who is really running the country

Labour MP demands independent inquiry into ‘flawed’ selection contest

‘Safe haven for paedophiles’: Braverman sounds alarm over Meta’s encryption plans

Sunak bows to pressure, weakens climate pledges

According to Forbes figures referenced by the charity, the world’s ten richest men are: Elon Musk, Jeff Bezos, Bernard Arnault and family, Bill Gates, Larry Ellison, Larry Page, Sergey Brin, Mark Zuckerberg, Steve Ballmer and Warren Buffet.

Their wealth collectively grew from $700 billion to $1.5 trillion. Musk’s fortune grew by more than 1,000 per cent – while Gates’ rose by a comparatively modest 30 per cent.

‘Eye-watering windfalls’

And the Oxfam report, which also relies on data from the World Bank, said a lack of access to healthcare, gender-based violence, hunger and climate breakdown contributed to one death every four seconds.

It said 160 million more people were living on less than £4.02 a day than would have been without the impact of Covid.

“Even during a global crisis our unfair economic systems manage to deliver eye-watering windfalls for the wealthiest but fail to protect the poorest,” Sriskandarajah said.

He added that political leaders now have the opportunity to back bolder economic policies to “change the deadly course we are on”, including higher taxes on capital and wealth.

Related: England’s north-south divide worsening, new report says

Tags: Elon MuskJeff Bezos
Previous Post

Starmer says he’s ‘not remotely threatened’ by new Corbyn party as he eyes up Gary Neville for Labour

Next Post

Energy crisis: Families suffering from ‘fuel stress’ to treble overnight

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

More from TLE

Timeline of allegations made against Russell Brand

Labour would seek ‘much better’ Brexit deal from Brussels – Starmer

No 10 refuses to guarantee HS2 will run to Manchester

Femi explains what Labour’s Brexit policy could look like

For the experience: Johnnie Walker Blue Label launches Elusive Umami blend

Russell Brand tour dates postponed as Met receives report of alleged sex assault

Braverman blasted after Neo-Nazi ‘banned from Germany’ allowed to enter UK

Thousands of new staff would ‘cut asylum backlog and end hotel and barge use’

Sunak bows to pressure, weakens climate pledges

Hotel of the month: Bishopstrow Hotel & Spa 

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




-->