{"id":90342,"date":"2024-01-15T03:20:45","date_gmt":"2024-01-15T03:20:45","guid":{"rendered":"https:\/\/www.estaql.com\/worlds-richest-men-double-their-wealth-in-three-years-as-oxfam-warns-of-first-trillionaire-world-news\/"},"modified":"2024-01-15T03:20:45","modified_gmt":"2024-01-15T03:20:45","slug":"worlds-richest-men-double-their-wealth-in-three-years-as-oxfam-warns-of-first-trillionaire-world-news","status":"publish","type":"post","link":"https:\/\/estaql.com\/seo\/worlds-richest-men-double-their-wealth-in-three-years-as-oxfam-warns-of-first-trillionaire-world-news\/","title":{"rendered":"World’s richest men ‘double their wealth’ in three years – as Oxfam warns of first trillionaire | World News"},"content":{"rendered":"

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World’s richest men ‘double their wealth’ in three years – as Oxfam warns of first trillionaire | World News<\/h2>\n

World’s richest men ‘double their wealth’ in three years – as Oxfam warns of first trillionaire | World News<\/p>\n

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The world’s five richest men have more than doubled their fortunes to \u00a3688bn in three years – while the wealth of the poorest 60% has fallen, according to Oxfam.<\/p>\n

It says the first trillionaire could emerge within a decade but that poverty won’t be eradicated for 229 years.<\/p>\n

The charity’s report, Inequality Inc, comes as business and political leaders meet for the World Economic Forum in the upmarket Swiss ski resort of Davos<\/strong>.<\/p>\n

It’s traditionally used the occasion to highlight the divide between rich and poor, but this year says the gap has been “supercharged” since the pandemic.<\/p>\n

The fortunes of Tesla boss Elon Musk<\/strong>, Bernard Arnault – owner of luxury goods firm LVMH, Amazon founder Jeff Bezos<\/strong>, Oracle’s Larry Ellison and investment guru Warren Buffet, have increased 114% in real terms since 2020, says Oxfam.<\/p>\n

Their collective wealth is said to have grown from \u00a3321bn to \u00a3688bn.<\/p>\n

Musk alone is estimated to be worth about \u00a3180bn, according to the real-time Forbes list Oxfam<\/strong> used for its calculations.<\/p>\n

However, the 4.7 billion people who make up the world’s poorest 60% have become 0.2% poorer in real terms, Oxfam says, with many countries unable to give the COVID<\/strong> financial support of richer nations.<\/p>\n

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The charity’s interim boss says the prospect of a trillionaire in the next 10 years – while poverty could take 200-plus years to resolve – was “totally unacceptable”<\/p>\n

“This ever-widening gulf between the rich and the rest isn’t accidental, nor is it inevitable,” said Aleema Shivji.<\/p>\n

“Governments worldwide are making deliberate political choices that enable and encourage this distorted concentration of wealth, while hundreds of millions of people live in poverty.<\/p>\n

“A fairer economy is possible, one that works for us all. What’s needed are concerted policies that deliver fairer taxation and support for everyone, not just the privileged.”<\/p>\n

Read more:
What is Davos and what happens there?
Billionaires’ huge carbon footprints prompt call for action<\/strong><\/p>\n

Oxfam is hoping its report can help pressurise policymakers in Davos for the 15-19 January summit.<\/p>\n

Among those attending are Ukraine’s President Volodymyr Zelenskyy, Argentina’s new president Javier Milei, Chinese Premier Li Qiang, and European Commission chief Ursula von der Leyen.<\/p>\n

Oxfam wants governments to reduce corporate power by measures such as breaking up monopolies, capping bosses’ pay and bringing in higher taxes on excess profit and wealth.<\/p>\n

It’s also pushing for alternatives to the shareholder model, such as forms of employee ownership, and more fair-trade businesses.<\/p>\n<\/p><\/div>\n

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World’s richest men ‘double their wealth’ in three years – as Oxfam warns of first trillionaire | World News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

World’s richest men ‘double their wealth’ in three years – as Oxfam warns of first trillionaire | World News World’s richest men ‘double their wealth’ in three years – as Oxfam warns of first trillionaire | World News The world’s five richest men have more than doubled their fortunes to \u00a3688bn in three years – […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7711],"tags":[],"class_list":["post-90342","post","type-post","status-publish","format-standard","hentry","category-7711"],"_links":{"self":[{"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/posts\/90342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/comments?post=90342"}],"version-history":[{"count":0,"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/posts\/90342\/revisions"}],"wp:attachment":[{"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/media?parent=90342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/categories?post=90342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/estaql.com\/seo\/wp-json\/wp\/v2\/tags?post=90342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}