In the past decade, the richest 1% of people on Earth sucked up half of all new wealth. In 2020 and 2021, the richest 1% took nearly two-thirds of all new wealth – six times greater than the wealth made by the poorest 90% of the global population.

“Since 2020, for every dollar of new global wealth gained by someone in the bottom 90%, one of the world’s billionaires has gained $1.7 million”, wrote Oxfam.

In the meantime, global poverty is getting worse, not better.

These shocking statistics were published in “Survival of the Richest“, a report authored by Oxfam, an international humanitarian organization dedicated to fighting poverty and hunger.

The document details how, while hundreds of billions of working people across the planet suffer from hunger, insecurity, rising costs of living, and decreasing wages, “The very richest have become dramatically richer and corporate profits have hit record highs, driving an explosion of inequality”.