PARIS: Wealth accumulated by the richest one per cent will exceed that of the other 99pc in 2016, the Oxfam charity said on Monday, ahead of the annual meeting of the world’s most powerful at Davos, Switzerland.
“The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast,” Oxfam executive director Winnie Byanyima said.
The richest one per cent’s share of global wealth increased from 44pc in 2009 to 48pc in 2014, the British charity said in a report, adding that it will be more that 50pc in 2016.
The average wealth per adult in this group is $2.7 million (2.3 million euros), Oxfam said.
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