World's 10 richest will take 414 years to spend their combined wealth, finds study
A study by Oxfam International has said that it would take the 10 billionaires 414 years to spend their combined wealth at a rate of a million dollars each per day.
The 10 richest people in the world more than doubled their fortunes during the Covid-19 pandemic, according to a study released on Monday (January 17, 2022) ahead of the World Economic Forum's Davos Agenda summit.
The study by Oxfam International said that the 10 wealthiest people boosted their fortunes by $15,000 a second or $1.3 billion a day during the pandemic.
Here are some figures on global inequality:
World's 10 richest people own six times as much wealth as bottom 40%
Wealthiest 1% emits twice as much planet-warming carbon dioxide as bottom 50%
Over 160 million pushed into poverty
It would take nearly 136 years for women to be on an equal footing with men
Inequality contributing to death of 21,000 each day
The study showed that inequality between nations is expected to rise for the first time in a generation, and is also growing within countries.
"Inequality is contributing to the death of at least 21,300 people each day - one person every four seconds," according to Oxfam's report. (Representational Photo: Reuters)