85 Elites Have As Much Wealth As Half The World’s Population

85 People, a group that could easily fit on a single subway car:

85 Wealthy Elites Have As Much Wealth As Half The World’s Population

85 Wealthy Elites Have As Much Wealth As Half The World’s Population

The extent to which both global wealth has become cornered by a virtual handful of so-called “global elite” is exposed in a new report by Oxfam on Monday. He warned that the 85 richest people in the world share a combined wealth of £ 1 billion , as much as the poorest 3.5 billion of the world population .

The organization fears that the development of this concentration of economic resources is threatening the political stability and increasing social tensions.

The report found that in recent decades , the rich have successfully managed to skew political influence policies in their favor on issues ranging from financial deregulation , tax havens to reduce tax rates on high incomes and cuts in public services for most. Since the late 1970s , tax rates for the wealthy have declined in 29 of the 30 countries for which data are available , according to the report .