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The World’s Billionaires Are Richer Than 60 Percent of the World, Study Says

Credit: In The Know Wibbitz
Published on January 23, 2020 - Duration: 01:10s

The World’s Billionaires Are Richer Than 60 Percent of the World, Study Says

The World’s Billionaires Are Richer Than 60 Percent of the World, Study Says.

Oxfam recently released a new report called, 'Time to Care,' focusing on the worldwide issue of wealth inequality.

According to the report, the world’s 2,153 billionaires have more money than the combined wealth of 4.6 billion people in the world.

Broken down further, the richest one percent are twice as wealthy as 90 percent of the human population.

"Our broken economies are lining the pockets of billionaires and big business at the expense of ordinary men and women," said Amitabh Bear, CEO of Oxfam India.

Oxfam’s report particularly focused on wealth inequality in terms of privileged men and underpaid women.

They found that the 22 wealthiest men in the world, including Jeff Bezos and Bill Gates, possess more wealth than all of the women in Africa combined.

They also found that women contribute $10.8 trillion to the global economy every year by putting in over 12 billion hours of unpaid care work every day

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