More than 80 per cent of all the wealth generated last year globally, flowed into the coffers of the richest one percent, an Oxfam report has revealed. The report says last year saw the biggest increase in billionaires in history – widening the gap between the rich and poor even more.
The research also shows that the 3.7 billion individuals who make up the poorest half of the global population saw their wealth flatline in 2017 – something that the group of charities describes as “unacceptable and unsustainable”.
But is an Increase in billionaire wealth indeed not good for all? We got the answers from Picard Francine Mukazi of the International Institute for Sustainable Development.