Economics

Real-terms gains of $33.9tn for world’s richest 1% ‘enough to end annual global poverty 22 times over’, charity says

The wealth of the world’s 3,000 billionaires has surged by $6.5tn (£4.8tn) in real terms over the past decade, according to Oxfam, equivalent to 14.6% of global output.

In total the richest 1% of the global population has gained at least $33.9tn in real terms, which the charity said was “enough to end annual global poverty 22 times over”.

The figures come as various governments face growing calls to introduce a wealth tax on the international elite.