Wealth of top 1% crosses $40 trillion in past decade: Oxfam
Average wealth per person in the top 1% rose by nearly $400,000 in real terms over last decade vs $335 for a person in the bottom half
Average wealth per person in the top 1% rose by nearly $400,000 in real terms over last decade vs $335 for a person in the bottom half
Ahead of the UN Climate Summit in Dubai, the Oxfam report says carbon emissions of 1% richest are enough to cause 1.3 million excess deaths due to heat
As per the report, between April 2020 and November 2022, the wealth of billionaires in India surged by 121% or ₹3,608 crore per day.
The report says India’s growing socio-economic inequalities are being widely replicated in the digital space.
But a decline in revenue and profitability will impact Indian corporations’ ability to contribute to the social sector through CSR activities.
The divide in wealth is based on a “flawed and sexist economic system” which does not value the unpaid and underpaid care work that is primarily done by girls and women globally, says its report.