World's richest men more than doubled their wealth in pandemic, Oxfam says

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The world’s 10 richest men have more than doubled their wealth during the pandemic - meanwhile, the crisis has left millions more people living in poverty.

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The world’s 10 richest men have more than doubled their wealth during the pandemic, according to Oxfam.

But the crisis has left millions more people living in poverty. Lower incomes for the world’s poorest contributed to 21,000 deaths each day, the charity said. The super-rich have been benefiting from government stimulus packages designed to reduce the impact of the virus, as well as a surge in share and property prices.‘Even during a global crisis our unfair economic systems manage to deliver eye-watering windfalls for the wealthiest but fail to protect the poorest,’ said Danny Sriskandarajah, chief executive of Oxfam GB.

Their collective wealth has grown from $700 billion to $1.5 trillion since March 2020, the charity said. But there is variation among them – Mr Musk’s fortune soared by more than 1,000%, while Mr Gates’s rose by 30%.to coincide with the World Economic Forum meeting in Davos, Switzerland, to attract the attention of economic, business and political elites.Oxfam said a lack of access to healthcare, hunger, gender-based violence and the climate crisis were contributing to one death every four seconds.

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