The wealth of the world’s billionaires . you won’t believe its size!

Billionaires added $ 5 trillion to their fortunes during the pandemic, according to Oxfam, exacerbating economic inequality as the pandemic drove millions of people in the whole world in poverty.

Using data collected by Forbes, Oxfam said in A new report that billionaires’ total wealth went from $ 8.6 trillion in March 2020 to $ 13.8 trillion in November 2021, a greater increase than the previous 14 years combined. The top ten richest men in the world more than doubled their collective wealth, increasing by $ 1.3 billion a day.

The report was released before the Davos World Economic Forum to be held online this week after the group’s annual meeting was postponed due to Omicron.

Oxfam said governments should tax the gains made by super rich during the pandemic and using the money to fund health systems, pay for vaccines, fight discrimination and tackle the climate crisis.

The combined wealth of the top 10 billionaires – including Tesla CEO Elon Musk and Amazon founder Jeff Bezos – doubled during the pandemic and is now 6 times larger than the world’s poorest 3.1 billion people, according to the report published by CNN. , “Al”.

In turn, the organization’s chief executive, Gabriella Bucher, said that current systems are actively enabling those who are already very rich and powerful to exploit this crisis for their own gain.

For its part, the World Bank estimates that 97 million people worldwide have fallen in conditions of extreme poverty in 2020 and now living on less than $ 2 a day. The number of the poorest people in the world increased for the first time in over 20 years.

This is when billionaires are asked to use their wealth to help the less fortunate. UN World Food Program director David Beasley called on billionaires including Bezos and Musk to “act now, for once” to solve world hunger in November.

Musk commented on Beasley’s tweet saying he was immediately ready to sell Tesla stock, if the UN showed how $ 6 billion could end the hunger crisis. in Worldwide.

In turn, the World Food Program published its plan to fight hunger and pointed to the founder of Tesla, who did not respond.

Read More About: Business News