Study: Wealthiest 1% To Own Half Of The World’s Wealth By 2016
By next year, the richest one percent will have accumulated more than half of the world’s wealth. A new report released on Monday by Oxfam warns that this deepening global inequality is unlike anything seen in recent years. Using research from Credit Suisse and Forbes’ annual billionaires list, the anti-poverty charity was able to determine that the richest 1 percent of the world’s population currently controls forty-eight percent of the world’s wealth. If current trends continue, Oxfam predicts that the most-affluent will possess more wealth than the remaining 99 percent by… Read more…
