The mainstream media are all reporting on the latest Oxfam report. The five richest men in the world have more than doubled their wealth since 2020, says Oxfam.
Oxfam said the world’s five wealthiest men were worth 405 billion U.S. dollars in 2020. This figure has now risen to 869 billion U.S. dollars. Meanwhile, the world’s billionaires are 3.3 trillion billion U.S. dollars richer over the same period. The almost five billion “poorest” people lost 20 billion U.S. dollars in wealth during this period, so much for Oxfam.
Global poverty is in decline – the number of billionaires is rising.
Of course, Oxfam chooses the data to fit Oxfam’s thesis. 2020 was deliberately chosen as the year of comparison because of a massive coronavirus crash on the global stock markets. This makes the super-rich’s subsequent gains appear all the higher in comparison. And since the number of people living in extreme poverty........