The Phaserl


The 85 Richest People on Earth Own As Much As Half the World’s Population

by Jim Puzzanghera, LA Times:

The 85 richest people on Earth have the same amount of wealth as the bottom half of the population, according to a new report that highlights growing income inequality as political and business leaders gather for the annual World Economic Forum in Davos, Switzerland.

Those wealthy individuals are a small part of the richest 1% of the population, which combined owns about 46% of global wealth, according to the report from British humanitarian group Oxfam International.

The study found the richest 1% had $110 trillion in wealth — 65 times the total wealth of the bottom half of the population.

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