The share of wealth owned by the world’s super rich soared during the covid pandemic, while 100 million people sank into extreme poverty according to the World Inequality Report
The major new study, released on Tuesday shows that the top 1% took 38% of all additional wealth accumulated since the mid-1990s. The bottom 50% however, only captured 2% of it.
RT reports: It also said that the world’s 2,755 billionaires collectively own 3.5% of global household wealth this year, up from slightly above 2% at the start of the pandemic in early 2020.
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“The Covid crisis has exacerbated inequalities between the very wealthy and the rest of the population,” lead author Lucas Chancel said, adding that rich economies used massive fiscal support to mitigate the sharp rises in poverty seen elsewhere.
The richest 10% of the population now takes 52% of global income and the poorest half just 8%, the study showed. Some super-rich have benefited from the shift online of much of the world’s economy during Covid-19 lockdowns, while others simply gained from rising asset prices.
“Since wealth is a major source of future economic gains, and increasingly, of power and influence, this presages further increases in inequality,” the study says, describing the current state of events as an “extreme concentration of economic power in the hands of a very small minority of the super-rich.”
Europe was named the world’s most equal region, with the richest 10% taking 36% of the income share. The Middle East and North Africa was the most unequal, with the wealthiest 10% taking 58% of income.
Niamh Harris
Surprise ?They hate people really.
The Giant Sucking Sound. Perot only got it wrong insofar as exactly where everyone’s money was going. https://uploads.disquscdn.com/images/e445a8141c93e009cf1fd2fdb2110b97a92be93d0927cde210e9e4572d6de316.gif
BUT our money payed for that and the vaxs so I wound`nt feel too bad
This was the plan all along. This is the way the world has worked for millenia. Last half of the 20th century and the beginning of the 21st are just anomalies. The elites want to return to a feudal system. With just enough of us worker slaves left alive to build the elites homes, assemble their toys and grow their food.
You forgot to mention that they want there to be just enough people to do things you’ve mentioned, yet make sure there’s not enough to overthrow them with a violent revolution.
fluck that howard hughes`s HHMI still produces over one trillion dollars every ten years via patent right royuitys plus the church is still sitting on his WADdy warbucks bucks.The FN rich 2day is still poorer than dirt to howard work himself to death 4marica hughes