Oxfam: The highest 1% captured almost twice as a lot new wealth as the remainder of the world over final two years

Oxfam: The top 1% captured nearly twice as much new wealth as the rest of the world over last two years

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New York
CNN
 — 

The world’s wealthiest residents have been getting far richer, far faster than everyone else over the past two years.

The top 1% have captured nearly twice as much new wealth as the rest of the world during that period, according to Oxfam’s annual inequality report, released Sunday. Their fortune soared by $26 trillion, while the bottom 99% only saw their net worth rise by $16 trillion.

And the wealth accumulation of the super-rich accelerated during the pandemic. Looking over the past decade, they netted just half of all the new wealth created, compared to two-thirds during the last few years.

The report, which draws on data compiled by Forbes, is timed to coincide with the kickoff of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders.

Meanwhile, many of the…

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