World's 5 wealthiest men double their fortune in 2023--report
The world's wealthiest five men have more than doubled their fortune since 2020, the charity Oxfam says, as it calls on nations to resist the ultra-rich's influence over tax policy. A report from the charity, published as the global elite hobnob at the World Economic Forum (WEF) in Davos this week, said their wealth rose from $405 billion in 2020 to $869 billion last year.
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The world's wealthiest five men have more than doubled their fortune since 2020, the charity Oxfam says, as it calls on nations to resist the ultra-rich's influence over tax policy. A report from the charity, published as the global elite hobnob at the World Economic Forum (WEF) in Davos this week, said their wealth rose from $405 billion in 2020 to $869 billion last year.
Video by AFP
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Subscribe to our Digital Edition - https://tmt.ph/digital
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NewsTranscript
00:00 So, the five top billionaires have doubled their wealth and almost 5 billion people,
00:08 that's 60% of the population, that's become poorer.
00:14 So that's what is happening and this is a decade of division.
00:18 A decade of division where Oxfam predicts that within a decade we'll actually have a
00:24 trillionaire.
00:25 And this is happening when almost 800 million people have not been able to have real wages,
00:33 keep up with inflation.
00:35 And this is happening because we are entering into an era of billionaire supremacy, an era
00:44 of corporate and monopoly power and these are clearly squeezing the workers, dodging
00:51 taxes, privatising public services, plundering Mother Earth, essentially for more and more
01:00 profit for their billionaire owners.
01:04 It's a fundamental choice that WEF and I would say the global community needs to make.
01:11 It's a policy choice to ensure that we have equality.
01:16 We cannot continue with these levels of obscene...
01:19 [pause]
01:27 [ding]
01:28 [BLANK_AUDIO]