Since 1995, the slice held by billionaires has risen from one per cent to three per cent, according to the World Inequality Report.
"After more than 18 months of Covid-19, the world is even more polarised," Dr Lucas Chancel, co-director of the World Inequality Lab at the Paris School of Economics, told AFP. Only one of the men is not American — LVMH luxury group chief Bernard Arnault — and all but two are tech industry leaders whose fortunes have been turbocharged by soaring company share prices.According to the report, the world's 52 richest individuals have seen the value of their wealth grow by 9.2 per cent per year for the past 25 years, well above less wealthy social groups.
Dr Chancel, the study's lead author, said state intervention was crucial in the fight against poverty but that wealthier nations were able to act more during the coronavirus pandemic.
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