The Guardian: The Fortunes Of The Top 1% Of The World's Richest People Increased By $33.9 Trillion
19- 26.06.2025, 11:15
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That's "enough to end global poverty 22 times over.
Over the past decade, the wealth of the world's 3,000 billionaires has grown by $6.5 trillion, equivalent to 14.6% of global GDP. Overall, the richest 1% of people have received at least $33.9 trillion.
The The Guardian writes that the study was conducted by the charity Oxfam. According to them, this is "enough to end global poverty 22 times over."
In the UK, the number of billionaires has risen sharply from 15 in 1990 to 165 in 2024, according to separate data from the Equality Trust, which found that their average wealth has risen by more than 1,000% over the same period. Billionaires pay "effective tax rates close to 0.3% of their wealth, well below what ordinary workers pay," Oxfam said.
Last year, Spain, Brazil, Germany and South Africa signed a proposal at the G20 summit to introduce a 2% minimum tax on the super-rich to reduce inequality and raise government revenue. Predictions vary on its potential impact, but a study by leading French economist Gabriel Zucman found that it could raise up to $250 billion in additional revenue.
Countries have called on other governments to support the campaign, saying a tax on the super-rich would complement talks on taxing the digital economy and ongoing efforts to introduce a global minimum corporate tax of 15% for multinational companies.
The representatives of Spain, Brazil, Germany and South Africa argue that measures should be taken to discourage the use of tax havens, and the tax would be designed to prevent tax avoidance by billionaires who choose to live in Monaco or Jersey, for example, but earn in larger economies like Britain or France.
A poll by Oxfam found that 86% of people support the idea of paying for public services by "closing loopholes" that allow rich people and large
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