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82% of all the wealth in the world went to just 1% of its people last year

82% of all the wealth in the world went to just 1% of its people last year
[Photo: Jimi Filipovski /Unsplash]

That wealth inequality is the latest sign things are continuing to move in the wrong direction according to an Oxfam study (via CNBC). The report comes on the heels of the World Economic Forum’s annual meeting in Davos this week. Among other findings in Oxfam’s reports:

  • Just 42 people own as much wealth as 50% of the world’s poorest.
  • Between 2005 and 2015, the wealth of billionaires increased an average of 13% per year.
  • That means last year the world’s billionaires would have made an additional $762 billion–enough to end extreme poverty seven times over.
  • There are 2,043 billionaires in the world, and 9 out of 10 of them are men.
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