The British humanitarian organization Oxfam has released its annual report on wealth and poverty, warning of the formation of a new aristocracy in the world. The report notes that wealth and power are increasingly concentrated in the hands of a limited number of people, leading to increased social inequality. The report was published on the eve of the World Economic Forum in Davos, which begins on Monday.
According to Oxfam, in 2024 the fortunes of billionaires increased by $ 2 trillion, which is almost $ 5.7 billion per day. This growth rate was three times higher than the previous year. The number of billionaires on the planet also increased - from 2,565 to 2,769 people. At the same time, poverty rates have remained virtually unchanged since 1990, confirming the gap between the richest and poorest segments of the population.
Oxfam warns that at this rate of growth in the wealth of the richest, the world could gain at least five trillionaires in the coming decade, which will significantly increase social and economic inequality. The organization also emphasizes that most of the wealth of billionaires is not the result of their work or entrepreneurial activity, but comes from inheritance, monopoly power or clan connections.
Particularly alarming is the fact that 36% of the wealth of billionaires is inherited, and this figure continues to grow, reaching a record high. All billionaires under the age of 30 received their fortunes as an inheritance, which indicates the formation of a new generation of aristocracy. This process of transferring enormous wealth between generations exacerbates existing inequality in society.
Oxfam is calling on governments to take action to reduce this inequality, including by raising taxes on the wealthiest. The organization says tax policies need to be overhauled to ensure a fairer distribution of resources and reduce the gap between rich and poor.
Oxfam’s calls challenge existing economic models and highlight the need for reform to ensure stability and fairness in the global economy. If current trends continue, societies around the world could face even greater social and economic challenges.
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