Wealth of top 5 billionaires doubles as global poverty rises

Wealth of top 5 billionaires doubles as global poverty rises

The fortunes of the world's five richest individuals have doubled to $869 billion since 2020, while five billion people face increased poverty. Oxfam reports that billionaires now control 70% of the world's biggest companies, prompting the anti-poverty agency to urge governments to break up monopolies, impose wealth taxes, and explore alternative ownership models like employee ownership. The findings coincide with the World Economic Forum meeting in Davos.

January 15, 2024 17

Environment

Oxfam calls for EU-wide tax on carbon emissions

.A new report by one of Europe's biggest charities has revealed the continent's richest countries are emitting a disproportionate amount of carbon emissions compared to nations at the lower end of the socioeconomic scale. Launching the findings, the group has called for a new EU-wide tax to balance the scales. Trent Murray reports.

November 21, 2023 16