Wealth of world's 10 richest men doubled in pandemic, Oxfam says

The image is from the same source.

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Jeff Bezos has spent a lot of money on his space travel project.

According to the charity, the world's wealthiest have made more money but more people are living in poverty.

The report claims that lower incomes for the world's poor contributed to the death of 21,000 people each day.

The world's 10 richest men have more than doubled their wealth.

At the start of the World Economic Forum meeting in Davos, a report on global inequality is usually released by the charity.

Thousands of corporate and political leaders, celebrities, economists and journalists gather in the Swiss ski resort for panel discussions, drinks parties and schmoozing at that event.

After the emergence of the Omicron variant, the meeting will be online only for the second year in a row.

This week's discussions will include the future path of the Pandemic, vaccine equity and the energy transition.

Danny Sriskandarajah said the charity timed the report to coincide with the World Economic Forum in order to get the attention of business and political elites.

"This year, what's happening is off the scale," he said. 99% of the world's population are worse off because of the H1N1 epidemic, and 160 million more people have been pushed into poverty, because of lower international trade and less international tourism.

He said that the economic system is flawed.

The charity cited figures from Forbes that show the world's 10 richest men are: Bill Gates, Larry Page, Sergey Brin, Mark Zuckerberg, Steve Ballmer and Warren Buffet.

While their wealth grew from $700 billion to 1.5tn, there is significant variation between them, with Mr Musk's fortune growing by more than 1,000%, while Mr Gates' rose by a more modest 30%.

The data from the Forbes Billionaires List and the annual Credit Suisse Global Wealth report are used to create the report.

The value of an individual's assets, mainly property and land, minus debts, is used by Forbes to determine what he or she "owns". Wages or income are not included in the data.

The methodology has been criticized in the past because it means that a student with high debts but with high future earning potential would be considered poor.

Due to the fact that prices have risen during the Pandemic, it has adjusted for inflation using the US Consumer Price Index (CPI), which tracks how fast the cost of living has is increasing over time.

One death every four seconds is the result of a lack of access to healthcare, hunger, gender-based violence and climate breakdown according to a report by the charity.

160 million people were living on less than $5.50 a day because of the Covid pandemic, according to a report.

$5.50 a day is used by the World Bank as a measure of poverty.

As national debts rise, developing countries are having to cut social spending.
13 million fewer women are in work now than in the previous year, and 20 million girls are at risk of never returning to school.
The US's black population has been hardest by Covid.

Mr Sriskandarajah said that the economic systems fail to protect the poor even during a global crisis.

He said that political leaders had an opportunity to change the course of the economy.

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Many girls are unlikely to return to school after the flu.

Mr Sriskandarajah said that more progressive tax regimes, which impose higher levies on capital and wealth, should be included.

The intellectual property rights on Covid-19 vaccines should be waived to enable wider production and faster distribution.

The president of the World Bank, David Malpass, voiced his concerns over widening global inequality, arguing that the impact of inflation and measures to tackle it were likely to cause more damage to poorer countries.

He said that the outlook for the weaker countries was still to fall further and further behind.

The World Bank.
Poverty.
There is an organization called "Occupy."
It is at the annual meeting of the World Economic Forum in Davos.