The world's five richest people have doubled their wealth since 2020 while 5 billion people have become poorer
The world’s five richest people have more than doubled their fortunes since 2020, while five billion people have been made poorer, a new Oxfam report found. The report, published Sunday, outlined that while the top 148 corporations made $1.8 trillion in total profits in the year to June 2023, the wages of nearly 800 million workers have failed to keep up with inflation. Oxfam estimated that the average worker has lost nearly a month of wages in the last two years.
Oxfam is a group of 21 independent charitable organizations that work to alleviate global poverty.
