Since Pandemic, World’s Wealthiest 1% Get Significantly Wealthier, Report Says
A recent Oxfam report has disclosed that since 2020, a colossal 63% of all new wealth generated has flowed into the “coffers of the world’s wealthiest 1%”
The report, titled ‘Survival of the Richest: the India Story,’ highlights the stark contrast of wealth inequality, a persistent problem in the midst of the ongoing global health crises and significant economic ramifications.
The Covid pandemic that shook the global economy, caused financial instability, job losses and economic hardship for much of the world, helped the World’s richest see a significant increase in their fortunes.
The Oxfam report analyzes the present situation of global wealth disruption and calling for urgent action to create a “more equitable economic system,” the kind that will allow fair distribution of wealth and income.
If you value our journalism…
TMJ News is committed to remaining an independent, reader-funded news platform. A small donation from our valuable readers like you keeps us running so that we can keep our reporting open to all! We’ve launched a fundraising campaign to raise the $10,000 we need to meet our publishing costs this year, and it’d mean the world to us if you’d make a monthly or one-time donation to help. If you value what we publish and agree that our world needs alternative voices like ours in the media, please give what you can today.