85 Wealthiest as Rich as Half the World

Melanie Batley newsmax.com The combined wealth of the world's 85 richest people is equivalent to the wealth of half of the planet's entire population, new research has found. A report issued by the British charity, Oxfam, says that the 85 richest people across the globe own as much as the poorest 3.5 billion — about $1.6 trillion. In addition, the wealth of the top 1 percent of the world's richest people is equal to 46 percent of the world's wealth, or $110 trillion. "It is staggering that in the 21st Century, half of the world's population own no more than a tiny elite whose numbers could all sit comfortably in a single train carriage," said Winnie Byanyima, Oxfam Executive Director. "We cannot hope to win the fight against poverty without tackling inequality. Widening inequality is creating a vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest of us to fight over crumbs from the top table," she said. to read more: newsmax.com