Davos: Elites to “Debate” Rising Inequality


53 of Davos attendees own as much wealth as the poorest half of the entire world

Source: Reuters

Politicians and business leaders gathering in the Swiss Alps this week face an increasingly divided world, with the poor falling further behind the super-rich and political fissures in the United States, Europe and the Middle East running deeper than at any time in decades.

Credit: Mazda Hewitt / Flickr

Just 62 people, 53 of them men, own as much wealth as the poorest half of the entire world population and the richest 1 percent own more than the other 99 percent put together, anti-poverty charity Oxfam said on Monday.

Significantly, the wealth gap is widening faster than anyone anticipated, with the 1 percent overtaking the rest one year earlier than Oxfam had predicted only a year ago.

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