A report by Oxfam published on January 20, 2025, highlights a growing wealth disparity globally, noting that billionaire wealth surged by $2 trillion in 2024. This report, released ahead of the World Economic Forum in Davos, underscores the alarming trend of the richest 1% owning 45% of global wealth while 44% of the population lives on less than $6.85 per day.
- Wealth disparity is increasing globally.
- Billionaire wealth grew by $2 trillion in 2024.
- 1% owns 45% of global wealth.
- Women face extreme poverty and unpaid labor.
- Trump's policies criticized for fueling inequality.
- Protests at Davos call to "tax the rich."
The Oxfam report titled “Takers Not Makers” emphasizes that the wealth of the richest individuals is increasing at an unprecedented rate. Over the past decade, the wealth of the top 10 billionaires has grown by an average of $100 million per day. In 2024 alone, 204 new billionaires emerged, contributing to a total billionaire wealth increase of $2 trillion.
Key statistics from the report include:
- The richest 1% own 45% of global wealth.
- 44% of the global population lives on less than $6.85 per day.
- One in ten women globally lives in extreme poverty, earning less than $2.15 a day.
Oxfam’s executive director, Amitabh Behar, warns that the current economic system allows billionaires to shape policies that further enrich them. He highlighted the significant unpaid labor provided by women, which adds approximately $10.8 trillion to the global economy, three times the value of the tech industry. The report also criticizes the policies of U.S. President Donald Trump, suggesting they exacerbate inequality and benefit the wealthy.
As the World Economic Forum convenes in Davos, protests have erupted, with demonstrators calling for wealth redistribution and systemic change. The summit, attended by 3,000 leaders and executives, is expected to address pressing global economic issues.
The Oxfam report serves as a critical reminder of the widening gap between the wealthy and the poor, urging global leaders to take action to address these inequalities and promote a more equitable economic system.
