The richest 1% of Britons hold more wealth than 70% of the population, while the four richest Britons have more wealth than 20 million individuals, reveals Oxfam report
Globally, the richest 1% have gained $26 trillion (£21 trillion) in new wealth since 2020, nearly twice as much as the other 99% of the world’s population. The report is published as elites gather in the Swiss ski resort of Davos for the opening day of the World Economic Forum.
The Oxfam report, Survival of the Richest, highlights how extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years. It shows that the 1% are getting an ever-greater share of the world’s resources, despite already capturing around half of all new wealth during the past decade.
In the two years up to December 2021, the 1% earned almost two-thirds (63%) of the $42 trillion (£34 trillion) of new wealth created.
