The top 1 per cent of the wealthiest people in the world is worth US$42 trillion or twice as much as the bottom 99 per cent of the world.
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The world?s richest 1 per cent represents about two-thirds of all the wealth in the world and this astronomical sum is worth US$42 trillion since 2020. In a report by Oxfam International, the wealth gathered by this powerful group is almost twice as much as the bottom 99 per cent.

?While ordinary people are making daily sacrifices on essentials like food, the super-rich have outdone even their wildest dreams. Just two years in, this decade is shaping up to be the best yet for billionaire ? a roaring ?20s boom for the world?s richest,? said Gabriela Bucher, Executive Director of Oxfam International.
Billionaires? net worth have surged over the past three years against the backdrop of rising food and energy prices. Oxfam’s report found that 95 food and energy companies have more than doubled their profiles in 2022. This amounted to US$306 billion, and about 84 per cent of this profit went to stakeholders. For example, the Walton family, who owns half of Walmart, took home US$8.5 billion last year while Gautam Adani?s wealth expanded by 42 per cent or US$42 billion in the same year.

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