Global capitalism, we have a problem.
We’ve long known that life isn’t fair and that the world’s wealth is unevenly distributed. But the latest factoid from Oxfam on global poverty and inequality is breathtaking. In a new report, the nonprofit reports that just 85 people—the richest of the world’s rich—hold as much wealth as the poorest 3.5 billion. That’s half the world’s population.
In other words, the top 0.00000001 percent are worth as much as the bottom 50 percent combined. The top 1 percent, meanwhile, control nearly half the world’s wealth, or 65 times as much as the world’s less-fortunate half.