Photo Illustration by Thomas Levinson/The Daily Beast/Getty
The world’s five richest men have doubled their fortunes since 2020, according to a new report from the charitable organization Oxfam.
The analysis, released on the eve of the elite World Economic Forum in Davos, found that the wealth of the world’s five richest billionaires has more than doubled since the start of the decade, despite the majority of the world growing poorer.
“We’re witnessing the beginnings of a decade of division, with billions of people shouldering the economic shockwaves of pandemic, inflation and war, while billionaires’ fortunes boom,” said Oxfam International Interim Executive Director Amitabh Behar in a press release. “This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else.”