Breaking News
Global Elites Double Their Wealth from Disastrous Pandemic
As the coronavirus pandemic ravages the world, causing forced lockdowns, problems in supply chains, economic upheaval, and poverty, it seems globalist financial elites “have had a terrific pandemic,” a report released on Monday said.
Over the past 12 months, the 10 richest men in the world have made more than double their fortunes to $1.9 trillion at a rate of $1.6 billion a day. This proves that they have been mostly spared of the misery and financial ruin normal people have been suffering due to the endless number of enforced lockdowns.
According to Oxfam, a confederation of charities focusing on alleviating poverty around the world, the members of the globalist financial elites had their wealth go up more during the pandemic compared to the last 14 years when the world economy took a hit following the worst recession since 1929’s Wall Street Crash.
Oxfam’s latest report, Inequality Kills, has been released while global business leaders came together virtually this week for the World Economic Forum in Davos, Switzerland.
Some of the main points of the report were laid out to Australia’s ABC news outlet by Lyn Morgain, Oxfam Australia’s Chief Executive. Morgain mentioned that “We have a situation where 10 men hold more wealth than that of two-thirds of humanity.”
Apart from this, she also mentioned that the “bottom 40 percent are hanging on by a thread.”
The report also highlights what Oxfam claims are “unprecedented” levels of global inequality while COVID-19 makes the divide between “us and them” and the “haves and have nots” more prominent.
Meanwhile, people like Tesla’s Elon Musk, Amazon’s Jeff Bezos, and Facebook’s Mark Zuckerberg had the biggest year-on-year growth since records began.
During a time when this group of people was using their money to go into outer space, Oxfam said that the World Bank projected that over 160 million people have been forced into poverty.
Overall, 20 new “pandemic billionaires” have also come about in Asia because of the international response to COVID-19, as per the charity.
The charity’s report comes after a December 2021 study that they ran which found that the share of global wealth of the world’s richest people went up at a record pace during the pandemic.
Up Next:
