Unbelievable Inequality: How the Top 1% Outpaced the Bottom 50% by 34 Times

Oxfam has revealed that the wealth accumulated by the richest 1 percent of the global population has surged to 42 trillion dollars over the past decade, which is nearly 34 times more than the wealth held by the bottom 50 percent. This finding was disclosed ahead of the G20 finance ministers and central bankers meeting starting today in Rio de Janeiro.

The report indicates that the average per capita wealth for the top 1 percent increased by nearly 400,000 dollars over the decade, in stark contrast to a mere 335 dollars, or about 9 cents a day, per person in the bottom half of the wealth distribution.

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