Eight men own wealth same as poorest half of world: Oxfam
 

LONDON: Eight men own the same wealth as the poorest half of the world´s population, a level of inequality which “threatens to pull our societies apart”, Oxfam said on Monday ahead of the World Eco**mic Forum opening in Davos.

The wealth of the world´s poorest 3.6 billion people is the equivalent to the combined net worth of six American businessmen, one from Spain and a**ther from Mexico.

Picked from Forbes´ billionaires list, they include Microsoft founder Bill Gates, Mark Zuckerberg who co-founded Facebook, and Jeff Bezos, founder of Amazon.

Oxfam pointed to a link between the vast gap between rich and poor and growing discontent with mainstream politics around the world.

“From Brexit to the success of Donald Trump´s presidential campaign, a worrying rise in racism and the widespread disillusionment with mainstream politics, there are increasing signs that more and more people in rich countries are ** longer willing to tolerate the status quo,” Oxfam said in its new report, “An eco**my for the 99 percent”.

The charity said new data on wealth distribution from countries such as India and China had prompted it to revise its own calculation, having said a year ago the wealth of half the world´s population was in the hands of 62 people.

Inequality will be among the issues topping the agenda as the world´s political and business elite meet in Davos from Tuesday until Friday, when 3,000 people will gather for the annual meeting of the World Eco**mic Forum.

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