The hole between the tremendous wealthy and the remainder of the world widened as wealth continued to be owned by a small minority, in response to Oxfam report.

The world’s richest one p.c raked in 82 p.c of the wealth created final yr whereas the poorest half of the inhabitants obtained none, Oxfam mentioned Monday, because the world’s elite ready to mingle on the World Financial Discussion board in Davos.

A brand new report from the charity additionally discovered that the wealth of billionaires has grown six instances quicker than that of odd staff since 2010, with one other billionaire minted each two days between March 2016 and March 2017.

The report, titled “Reward Work, not Wealth”, used knowledge from Credit score Suisse to check the returns of high executives and shareholders to that of odd staff.

It discovered that chief executives of the highest 5 world vogue manufacturers made in simply 4 days what garment staff in Bangladesh earn over a lifetime.