Amitabh Behar
In three years, the world has witnessed a “supercharged surge in extreme wealth,” new data shows.
In the U.S. alone, billionaires are 46% richer than they were in 2020, while the three wealthiest men — Elon Musk, Jeff Bezos and Larry Ellison have increased their net worth by 84%, a recent Oxfam report on global inequality found.
Yet, despite the fact that America ranks first as the richest nation in the world in terms of gross domestic product, 37.9 million Americans live in poverty, accounting for 11.5% of the total population, according to the latest report from the U.S. Census Bureau.
“We’re witnessing the beginnings of a decade of division, with billions of people shouldering the economic shockwaves of pandemic, inflation and war, while billionaires’ fortunes boom,” said Oxfam International interim Executive Director Amitabh Behar.
– CNBC.com
