Brief by Shorts91 Newsdesk / 02:58pm on 16 Jan 2024,Tuesday International
The world's wealthiest individuals, including Elon Musk and Jeff Bezos, have seen their fortunes surge to $869 billion since 2020, while nearly 5 billion of the world's poorest have faced financial setbacks, states Oxfam's latest report. Predicting the emergence of the first trillionaire within a decade, the report highlights a widening wealth gap and warns that at current rates, global poverty won't be eradicated for another 229 years. Oxfam calls for a wealth tax, suggesting that taxing British millionaires and billionaires could generate £22 billion annually. The report coincides with the World Economic Forum meeting in Davos.
