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Oxfam released report titled An economy for the 99 per cent

The report calls for a fundamental change in the way we manage our economy so that they work for all people, and not just a fortunate few.

Jan 17, 2017 18:39 IST
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oxfam report on inequalities=The Oxfam on 16 January 2017 released a report entitled An economy for the 99 percent. The report was released Oxfam to mark the annual World Economic Forum (WEF) meeting of political and business leaders in Davos, Switzerland.

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Highlights of the report

•    The world’s eight richest people own the same wealth as the 3.6 billion people who make up the poorest half of humanity.

•    The report describes that the big business and the super-rich are fuelling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics.

•    Oxfam’s report shows how our broken economies are funnelling wealth to a rich elite at the expense of the poorest in society.

The world’s 8 richest people are -

•    Bill Gates: Founder of Microsoft (net worth $75 billion)

•    Amancio Ortega: Founder of Inditex, which owns the Zara fashion chain (net worth $67 billion)

•    Warren Buffett: American CEO and largest shareholder in Berkshire Hathaway (net worth $60.8 billion)

•    Carlos Slim Helu: Owner of Grupo Carso (net worth: $50 billion)

•    Jeff Bezos: American founder, chairman and chief executive of Amazon (net worth: $45.2 billion)

•    Mark Zuckerberg: American chairman, chief executive officer and co-founder of Facebook (net worth $44.6 billion)

•    Larry Ellison: American co-founder and CEO of Oracle  (net worth $43.6 billion)

•    Michael Bloomberg: American founder, owner and CEO of Bloomberg LP (net worth: $40 billion)

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