Alwaght- Number of world's billionaires has doubled in the past decade reaching 2,153 in 2019, Oxfam International reported on Monday, saying these tycoons have more wealth than the 4.6 billion people who make up 60 per cent of the planet's population.
Oxfam India CEO Amitabh Behar, who is in Davos to represent the Oxfam confederation this year said: "The gap between rich and poor cannot be resolved without deliberate inequality-busting policies, and too few governments are committed to these."
In addition to the wealth gap, the Oxfam report focused on the financial gap between genders.
“Our economic system was built by rich and powerful men, who continue to make the rules and reap the lion’s share of the benefit. Worldwide men own 50% more wealth than women,” the report says.
The 22 richest men in the world have more wealth than all the women in Africa. Women and girls put in 12.5 billion hours of unpaid care work each and every day -- a contribution to the global economy of at least 10.8 trillion dollars a year, more than three times the size of the global tech industry.
"Our broken economies are lining the pockets of billionaires and big business at the expense of ordinary men and women. No wonder people are starting to question whether billionaires should even exist," Oxfam's India head Amitabh Behar said.
Oxfam's annual report on global inequality is traditionally released just before the forum opens on Tuesday in the Swiss Alpine resort.
It had some astonishing statistics.
If the world's richest one percent paid just 0.5 percent extra tax on their wealth for 10 years, it would equal the investment needed to create 117 million new jobs in elderly and child care, education and health, Oxfam said.