Oxfam found that 82 percent of the global wealth produced last year went to the richest 1 percent of the world’s population.
In other words four out of every five dollars of wealth created in 2017 went into the pockets of the 1 percent.
While a new billionaire was created every other day – the 3.7 billion people making up the poorest half of the world’s population saw no increase in their wealth last year.
‘The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system’ said Winnie Byanyima – the executive director of Oxfam.
‘The people who make our clothes – assemble our phones and grow our food are being exploited to ensure a steady supply of cheap goods and swell the profits of corporations and billionaire investors’.