TV News LIES

Friday, Oct 31st

Last update05:45:03 AM GMT

You are here News Economy 85 richest people own 46% of world's wealth

85 richest people own 46% of world's wealth

E-mail Print PDF

wealthResearch conducted by the British charity Oxfam has concluded that the combined wealth of the world's 85 richest people is equivalent to that owned by the bottom half of the world's population.

Separately, the report, titled "Working for the Few," claims that the richest 1% on the planet — more than the 85 people whose bounty is comparable to the collective wealth of the poorest half — are rich to the tune of $110 trillion. "The top 1% have 65 times the total wealth of the bottom half of the world's population," the study says.

"This capture of opportunities by the rich at the expense of the poor and middle classes has helped create a situation where seven out of every 10 people in the world live in countries where inequality has increased since the 1980s and 1 percent of the world's families now own 46% of its wealth ($110 trillion)," Oxfam said in a statement announcing the study, published ahead of this week's annual meeting of the World Economic Forum in Davos, Switzerland.

The WEF has identified income inequality as one of the greatest risks facing the world in 2014.

More...


Most Recent Related Stories...


One-Fifth of Detroit's Population Could Lose Their Homes

Detroiters to lose homesEvone Brown, a 55-year-old former machine operator, survives on $850 a month from retirement and disability...

Yellen says US experiencing widening inequality

Janet YellenFederal Reserve Chair Janet Yellen said Friday that the last several decades have seen the most...

Hundreds Give Up U.S. Passports After New Tax Rules Start

New tax lawsThe number of Americans renouncing U.S. citizenship increased 39 percent in the three months through September...

Banks accept derivatives rule change to end 'too big to fail' scenario

London financial districtThe $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!