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Number of billionaires doubles over past decade
Number of billionaires doubles over past decade
According to Oxfam’s International report, the number of billionaires in the world has doubled over the past decade. Last year, it amounted to 2,208 people. The world's billionaires are growing $2.5 billion richer every day, Oxfam noted.
Oxfam experts said that the figures presented in the report indicate a growing gap between the rich and poor. As stated by representatives of the organization, the combined fortune of the 26 richest individuals is equal to the total wealth of the poorest people who make up 50 percent of the world’s population. The report indicates that over the past two years, a new billionaire appeared every two days. At the same time, in 2018, the financial situation of 3.8 billion of the world's poorest people did not improve at all. During the reporting period, Jeff Bezos, the richest man and the owner of Amazon, saw his fortune increase to $112 billion. According to Oxfam, just 1 percent of this amount is equivalent to the whole health budget for Ethiopia.
Against all odds, the tax burden for the world's wealthiest citizens continues to decline. The maximum rate of personal income tax in rich countries fell from 62 percent in 1970 to just 38 percent in 2013. In developing countries, the average top rate of personal income tax is 28 percent. Assets of the owners of the largest fortunes, kept in offshore zones with a preferential tax regime, reach $7.6 trillion. Experts at Oxfam noted that this deprives developing countries of $170 billion. According to representatives of the organization, the current level of global economic inequality is abnormal.

Published: 2019-01-29 10:34:01 UTC
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