The ten richest men in the world have doubled their fortunes during the COVID-19 pandemic, a report published Monday by the advocacy group Oxfam said.
Oxfam is advocating for a tax on the ultra-rich to address inequities.The 10 richest men in the world doubled their fortunes during the COVID-19 pandemic, a report published Monday by advocacy group Oxfam said, highlighting how the global health crisis has deepened the divide between the haves and have-nots as well as the need for policy intervention to address these"deadly" inequities.
Information on the falling incomes of the global 99% was taken from World Bank data, Oxfam said in its methodology.Unhoused persons rest in Times Square on Aug. 8, 2020 in New York City. "Billionaires have had a terrific pandemic. Central banks pumped trillions of dollars into financial markets to save the economy, yet much of that has ended up lining the pockets of billionaires riding a stock market boom," Oxfam International Executive Director Gabriela Bucher said in a statement Monday accompanying the latest report.
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