- The World Inequality Report titled, ‘Reward Work, not Wealth’ was published by the Oxfam International at World Economic Forum annual summit, Davos on January 22, 2018.
- According to the report, 73% of the wealth generated in 2017 in India, went to the most wealthy 1%.
- Globally, 82% of the world wealth generated in 2017 was pocketed by the richest 1%.
- As per the report, there are now 2,043 dollar billionaires worldwide. The wealth of this group increased by $762 billion in just 12 months. Oxfam says, billionaires had been created at a record rate of one every two days over the past 12 months. This happened at a time when the 50% of the world’s poorest had seen no increase in their wealth.
- 42 people hold as much wealth as the bottom 3.7 billion people hold. It indicates extreme unequal world which needs to be pondered on.
- Indian billionaires’ wealth increased by $76.5bn from $247bn to over $324bn in 2017 which makes India one of the most unequal country in the world.
