Scan Life Posted on 2025-07-09 10:37:00

How much money have billionaires accumulated in a decade? - The amount is enough to eliminate annual poverty 22 times

From Kristi Ceta

How much money have billionaires accumulated in a decade? - The amount is enough

According to the latest report, the world's 1% of billionaires have added $33.9 trillion to their wealth since 2015. This amount would be enough to eliminate annual global poverty 22 times over.

According to a recent Oxfam report, the richest 1 percent of the world's population has added at least $33.9 trillion to their wealth over the past decade. Oxfam notes that this amount would be enough to eliminate global annual poverty 22 times over, according to the World Bank's highest standard for poverty line ($8.30 a day).

Billionaires alone, about 3,000 people worldwide, have gained $6.5 trillion since 2015, the report said.

"The extraordinary amount of wealth that has been concentrated in the hands of a few has also translated into political power, pushing the world towards an oligarchic system, where ultra-wealthy individuals have the ability to influence political and economic decision-making in ways that further increase their wealth," the document explains.

Concerns about wealth inequality have increased in recent years. In early 2024, Oxfam warned that if current inequality trends continue, the world could have its first trillionaire within a decade.

The report mentions a proposal presented by an economist during the G20 summit in Brazil, which calls for a minimum tax of 2% on the assets of the world's 3,000 billionaires, with annual income estimated at $200 to $250 billion.

The idea of ​​taxing the wealthy has been debated for years. In an interview last year, a professor of taxation at the University of New South Wales described the deep inequality as “a disaster for social cohesion.”

"Surely some of the excess money at the top of the pyramid could be used to help people at the bottom. And maybe that would make for a fairer and more efficient society," he said.

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