Real-terms gains of $33.9tn for world’s richest 1% ‘enough to end annual global poverty 22 times over’, charity says
The wealth of the world’s 3,000 billionaires has surged by $6.5tn (£4.8tn) in real terms over the past decade, according to Oxfam, equivalent to 14.6% of global output.
In total the richest 1% of the global population has gained at least $33.9tn in real terms, which the charity said was “enough to end annual global poverty 22 times over”.
The figures come as various governments face growing calls to introduce a wealth tax on the international elite.
In the UK, the number of billionaires has grown sharply, from 15 in 1990 to 165 in 2024, according to separate figures from the Equality Trust, which found their average wealth rose by more than 1,000% over the same period. Billionaires pay “effective tax rates close to 0.3% of their wealth, well below what average workers contribute”, Oxfam said.
