How much of the world's wealth belongs to the richest 1%?

Charity group Oxfam updated their research on inequality that shows that the world's richest 1% will control the wealth equal to 50% of the planet's total wealth in 2016.

The BBC prepared an infographic on the key findings of the report.

They began publishing the percentage in 2009 when it was 44%.

The 1% might seem like only the most powerful and successful people on the planet, but the BBC reports that individuals worth about R9 million are part of that 1%.

It suggests that unless all of us focus on the long term impact of inequality the consequences will not only be dire for the poor but everyone as the concentrated wealth will reduce the opportunity for growth. Low growth will see that gap continue to grow. Currently the world's richest 92 individuals have the wealth equivalent of the world's poorest 50%. As you can see below that ratio has been declining since 2010 when you needed the richest 388 individuals to match the wealth of approximately 3,5 billion people.

The number of billionaires that had the same wealth as the poorest 50% of the population over time.

The report was published as most of the world's Heads of State and most influential business people gather in Davos for the World Economic Forum. Oxfam International Executive Director Winnie Byanyima will co-chair the meeting and has called for urgent action to slow the wealth gap and create policies to reduce it.

While you might not be able to do something as an individual you could help by becoming more informed of the proposals and engaging with public representatives to create the policies to reverse the trend.

The increase in wealth of the richest individuals in the last year.

Redi hosted a discussion with Moazam Mahmood, Deputy Director in the research department with the International Labour Organisation to look at how the gap came about and what mechanisms might be used to address it.

EWN has a collection of stories relating to the World Economic Forum meetings taking place from 21 to 24 January 2015.


Recommended

by NEWSROOM AI
Read More
Signing is becoming obsolete, but you will still have a signature

Signing is becoming obsolete, but you will still have a signature

Confirming your identity will get easier, but there is a big catch.

Ryan is seven and reviews toys. For that he earned over R100 million last year

Ryan is seven and reviews toys. For that he earned over R100 million last year

Starting in 2015; a YouTube channel about toys has over 40 billion views.

Despite what you may think, you have no idea what a kilogram is

Despite what you may think, you have no idea what a kilogram is

It has been the same for 130 years but was changed in November.

Electric scooters - transport revolution or fad? It's probably both

Electric scooters - transport revolution or fad? It's probably both

You might not look good, but you will have fun, and you won’t be using a car.

Fortnite - two weeks will never be the same again

Fortnite - two weeks will never be the same again

The deathmatch game that may be the last one standing.

Davos 2015 is about "The New Global Context" - but what is that?

Davos 2015 is about "The New Global Context" - but what is that?

Bruce Whitfiled unpacks what 2500 world business leaders, politicans and thinkers will need to deal with in Davos next week.

Popular articles
ASOM: Coming to South Africa was a divine destiny - Pushie Watson, pastor

ASOM: Coming to South Africa was a divine destiny - Pushie Watson, pastor

In this segment of Africa State of Mind, Lee Kasumba chats to dancer turned pastor Pushie Watson about being a globetrotter, and migrating from Liberia to South Africa.

 When they told me I had cancer, I knew I was going to die - Dr. Lillian Dube

When they told me I had cancer, I knew I was going to die - Dr. Lillian Dube

In the profile interview, actress Dr. Lillian Dube chats about her battle with cancer, and gets personal about her faith and relationship with God.

What to do if you've been fined for expired driving licence due to strike

What to do if you've been fined for expired driving licence due to strike

Find out what you can do if you have been fined for carrying an expired licence, despite having the correct paperwork.

Here are the best toys to close the orgasm gap and take your sex life up a notch

Here are the best toys to close the orgasm gap and take your sex life up a notch

Dr Eve says that sex toys help close the frustrating orgasm gap and can increase intimacy and connection, alone or with a partner.

Check out BlitzBokke #Madiba100 jersey for Cape Town 7s

Check out BlitzBokke #Madiba100 jersey for Cape Town 7s

Saru has partnered with Asics to create a special Blitzbokke jersey to celebrate Nelson Mandela’s 100th birthday.

[WATCH]  Can you help us find this talented young singer?

[WATCH] Can you help us find this talented young singer?

Khabazela shares tweets and Facebook posts that have gone viral.

[LISTEN] Must you renovate your childhood home to prove that you've made it big?

[LISTEN] Must you renovate your childhood home to prove that you've made it big?

Trevor Noah has received some flak from social media users who have been wondering why he hasn't refurbished his Gogo's old house.

'I thought he was going to rape me' - Ellen Pakkies on killing drug addict son

'I thought he was going to rape me' - Ellen Pakkies on killing drug addict son

'Ellen' The Ellen Pakkies Story, premiers in cinemas on Friday.