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Oxfam International

Oxfam International

World

World

Billionaire wealth surges by $2 trillion in 2024, three times faster than the year before, while the number of people living in poverty has barely changed since 1990 | Oxfam International

Oxfam International
Summary
Nutrition label

72% Informative

204 new billionaires were minted in 2024 , nearly four every week .

Sixty percent of billionaire wealth is now derived from inheritance, monopoly power or crony connections.

Billionaire wealth grew by $2 trillion in 2024 alone, equivalent to roughly $5.7 billion a day.

Richest 1 percent in the Global North extracted $30 million an hour from the Global South through the financial system in 2023 .

Oxfam urges governments to tax the richest to reduce inequality, end extreme wealth, and dismantle the new aristocracy.

Research shows wages in the Global South are 87 to 95 percent lower than wages in North for work of equal skill.

Workers in low- and middle-income countries receive only 21 percent of global income.

Half of the world’s billionaires live in countries with no inheritance tax for direct descendants.

Oxfam calculates that 60 percent of billionaire wealth is either from crony or monopolistic sources or inherited.

According to the ILO , women in the informal economy are more often found in the most vulnerable situations, for instance as domestic workers, home-based workers or contributing family workers, than their male counterparts.

VR Score

82

Informative language

86

Neutral language

59

Article tone

formal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

Affiliate links

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