Shocking New Report: The 62 Richest Have More Wealth Than HALF THE WORLD!

Written by on January 20, 2016 in Economy with 32 Comments

Video Source: RT

The gap between rich and poor is widening according to the charity Oxfam, which reports that the 62 world’s richest people own the same as the poorest half of the planet's population.

Related Article: Inequity Grows: The Richest 20 Now Own More Than Half The Population

The Oxfam report is titled: AN ECONOMY FOR THE 1%: How privilege and power in the economy drive extreme inequality and how this can be stopped.

“Instead of an economy that works for the prosperity of all, for future generations, and for the planet, we have instead created an economy for the one percent,” the report says.

The gap between rich and poor is reaching new extremes,” Oxfam said. “The richest 1 percent have now accumulated more wealth than the rest of the world put together… Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years.”

This gap “is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century,” they said.

Even worse, the report concluded that the poor are getting much poorer.

“The wealth of the richest 62 people has risen by 44 percent in the five years since 2010—that’s an increase of more than half a trillion dollars ($542 billion), to $1.76 trillion,” Oxfam noted. “Meanwhile, the wealth of the bottom half fell by just over a trillion dollars in the same period—a drop of 41 percent. Since the turn of the century, the poorest half of the world’s population has received just 1 percent of the total increase in global wealth, while half of that increase has gone to the top 1 percent.”

Oxfam continued, “The average annual income of the poorest 10 percent of people in the world has risen by less than $3 each year in almost a quarter of a century. Their daily income has risen by less than a single cent every year.”

Related Article: Richest 1% Percent To Have More Than Rest of Humanity Combined by 2016

Wealth trickles up, not down, says Oxfam, because the richest individuals use global tax-avoidance schemes to avoid paying taxes to their governments. “Once [wealth is] there, an ever more elaborate system of tax havens and an industry of wealth managers ensure that it stays there, far from the reach of ordinary citizens and their governments.”

These disparities do more than keep the world's poor living in harsh and primitive settings. Oxfam cited other studies that have found countries with the greatest economic disparities also see other social inequities reaching into higher social classes.

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  1.' Ethan Hale says:

    No and the rich should start more opportunities, other than that it is just motivation

  2.' Carlo Evans says:

    How do you stop greed and selfishness?

  3.' Linda Hand says:

    Yes. There. Wealth. Should. Be. Shared. More. With. People. Who. Need. Things

  4.' Sheree Collette says:

    Take all the money from everyone in the world, and redistribute it so that everyone gets the same amount. After 10 years, what would have happened?

    Those who were wealthy before would become wealthy again, and those who were “poor” before would be poor again.

  5.' Andrew Wakeman says:

    Hate greed

  6.' Kelly Jo Strumness says:

    How is it greedy and selfish to be successful?? Too many people in this world thinking stuff should just be handed to them and think the world owes them. For what? There are jobs out there. People are just to picky saying I don’t want to do this or that. At least this or that will put money in your pocket instead of complaining about not having any. All you need in life is food, shelter, and clothing. You work hard for the luxuries if that’s what you want.

    •' Darren Walshe says:

      So you think greedy people have nothing to do with famines in Africa, rich nations will not let the poor countries evolve because they are raping the resources of greedy corrupt governments but you do have some point

    •' Carlo Evans says:

      Take a look at American up bringings. Were the most hated because of greed.

    •' Kelly Jo Strumness says:

      I suppose I’m just happy if I have a place to live, food to eat, and clothes to wear.

    •' Kelly Jo Strumness says:

      Another thing….. You have person A who doesn’t want to work and just live of the government cuz they think they’re entitled and you got person B who works 60+ hours a week to make his life the way he wants. Do you really think it would be OK to take half of person B’s earnings and give it to person A?? Hell no!

    •' Robin Cameron says:

      Kelly Jo Strumness – It’s all a matter of degree, proportionality and balance. Nobody (well, not many people) are saying that hard work and success shouldn’t have it’s rewards. Of course it should. But for very small numbers of people – who work no harder than the average Joe or Jane – to control such a huge percentage of the world’s wealth, is obscene. And doubly so when so many people do not have – as you say – “Food, shelter and clothing”. As I say, it’s all about balance – and the balance, just now, is way out of control.

  7.' Darren Walshe says:

    It’s disgusting

  8.' Darren Walshe says:

    It’s our governments that are to blame because they are in on the greed

  9.' Barbara Sturre says:

    So sad:(

  10.' Judi Copeland says:

    Looking back over history……when has it ever been much different? ….js…

  11.' Sally Render says:

    Print more money and stop squeezing the poor, stress causes ill health. STOP putting people down start lifting them. I hate our goverment.

  12.' Robert Vajna says:

    Not at all. Money does not make you happy. It seems like the poor have more money now than in any other time in history!

  13.' Don Field says:

    To much money does not make you rich. What make people rich is caring about people. I believe money should be more available to all.

  14.' Ethan Murphy says:

    I am completely okay with this because I have gotten out of life only what I’ve put into it.
    That’s what you skags should be preaching. Instead you’re manipulating lazy mf’ers into despising and envying the successful.

  15.' Maria Garcia-Siñeriz says:

    High Vibration. Play the wiseman music of chinese high vibes in every radiostation.

  16.' Ronalyn A. Antonio says:

    It’s all about in population the poor people is not educated about family planning ,and some rich people are discriminate the poor not all but most the rich people appreciate poor as a helper… Yes the poor is dirty look doesn’t live in comfortable house,but u know what is the real dirty??? The corrupt politicians…..the poor is greedy because they are hungry but the corrupt people is more greedy…

  17.' Bobby Bronson says:


  18.' James P Moon says:

    Ok so?
    The top 10% have more wealth than 90% of the world.
    If you can read this you’re richer than 6 billion people who can’t.

  19.' Paul Mc says:

    The solution? Hide how much money you have.

  20.' Dlav Gaucher says:

    The way to become rich is to become a POLITICIANS..they rip off the founding for the poor..just saying..

  21.' Dianna Chiles says:

    All offshore money should be confiscated because the greedy bastards don’t need it otherwise it wouldn’t be there. Then it could be used to develop renewable energy which would generate jobs for the poor. All the money could go towards the earths future with people like Bernie Sanders in control because he’s not money hungry

  22. Anonymous says:

    in a free market society, this is not possible, unless they Cheated, while holding others to different standards than they do for themselves. it is Criminal

  23.' Eugenia Maldonado says:

    Smh. If something could be done, let it be done. I think the grip is too tight for us to wriggle out of.

  24.' Mitchell Bram says:

    Might as well just give them the other half now. They will not stop till they get it. Then let’s see how they get on with no one else around to serve them.

  25.' Frank DeViller says:

    All I see is all talk no action

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