The world’s very richest added another $42 trillion to their fortunes over the last decade, France 24 reported the poverty-fighting charity Oxfam claiming on Thursday.
The charity made the claim ahead of a G20 summit in Brazil where taxing the super-rich will top the agenda, the story went on, saying the globe’s wealthiest 1% have seen their bank accounts swell even more since 2014, as it warned of “obscene levels” of inequality, with the rest of the world “left to scrap for crumbs”.
At this week’s summit in Rio de Janeiro, the G20’s finance ministers are expected to look at ways to raise levies on the ultra-wealthy and prevent billionaires from dodging tax systems, with France, Spain, South Africa, Colombia and the African Union backing the move but with the United States firmly against.
Read the full story: France 24
- By Sean O’Meara
Also on AF:
China’s War on Wealth: Funds Staff Told to Repay ‘Excess’ Salaries
Covid Pandemic Created New Billionaire Every 30 Hours: Oxfam
Chinese Censors Block ‘Wealth Flaunting’ on Social Media – NBC
World’s Top 10 Richest Men Doubled Wealth Amid Covid – Oxfam
