The collective fortunes of the super-rich have been increasing by $2.7 billion a day, a new study shows
Over the past two years, the richest 1% have amassed close to two-thirds of all new wealth created in the world, a new report by anti-poverty charity Oxfam revealed on Monday.
According to the report, a total of $42 trillion in new wealth has been created since 2020, with $26 trillion or 63% of that being amassed by the top 1% of the super-rich. The remaining $16 trillion was shared among the rest of the world.
“A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90%,” said the report, which was released on the opening day of the World Economic Forum in Davos, Switzerland.
Billionaires’ fortunes have reportedly increased by $2.7 billion a day over the past two years. This followed a decade of historic gains, with the number and wealth of billionaires having doubled over the past ten years.
Oxfam’s research highlighted that billionaire wealth soared in 2022 with rapidly rising food and energy profits. It said 95 food and energy corporations had more than doubled their profits last year. At the same time, at least 1.7 billion workers now live in countries where inflation is outpacing wages, and more than 820 million people – roughly one in ten people on Earth – are going hungry, Oxfam said.
READ MORE: Millions of Brits face falling living standards – study
“While ordinary people are making daily sacrifices on essentials like food, the super-rich have outdone even their wildest dreams. Just two years in, this decade is shaping up to be the best yet for billionaires – a roaring ’20s boom for the world’s richest,” said Gabriela Bucher, executive director of Oxfam International. She added that “taxing the super-rich and big corporations is the door out of today’s overlapping crises.”
“It’s time we demolish the convenient myth that tax cuts for the richest result in their wealth somehow ‘trickling down’ to everyone else. Forty years of tax cuts for the super-rich have shown that a rising tide doesn’t lift all ships – just the superyachts,” she concluded.
https://www.rt.com/business/569955-richest-grab-world-wealth/
Gaza authorities have accused Israel of systematically stealing organs from Palestinian bodies, a disturbing act that underscores the regime’s ongoing brutality.
With the international community turning a blind eye, officials warn that such atrocities will continue as long as Israel remains immune to accountability for its war crimes.....more below
UG Solutions, a leading US military subcontractor that previously provided security for the Gaza Humanitarian Foundation (GHF) and helped run Gaza’s deadly aid distribution system, is aggressively recruiting for a new round of deployments to the blockaded Palestinian territory, a media report says.
A former army officer who recently applied for a position told Drop Site that a UG Solutions official openly described plans for more than a dozen new aid sites in Gaza.
The officer further emphasized that the company was “going to need a lot more guys.”
Applicants are reportedly being told deployments could begin by December, with salaries of up to $1,000 per day plus per diem.
One recruit described interviews focused on weapons tests, “rules of escalation,” and questions about whether he would obey superiors regardless of past military rank. After multiple rounds of vetting, he was abruptly rejected......more below
https://www.presstv.ir/Detail/2025/11/20/759192/US--GHF-Gaza-Israel-
Foreign Minister Abbas Araghchi says Iran now considers the Cairo understanding with the International Atomic Energy Agency (IAEA) terminated, following the passage of an anti-Iran resolution at the agency’s Board of Governors.
The Board on Thursday narrowly approved the resolution drafted by the European Troika - France, Germany and the UK - and the United States—passing 19–3 with 12 abstentions—that urges Tehran to “without delay” report on its enriched uranium stockpile and facilities damaged in the June aggression by Israel and the US, while omitting any mention of Iran’s longstanding cooperation with the agency.
Araghchi condemned the move, calling the resolution “illegal and unjustified.” He said the measure was adopted “under pressure from these four countries” despite opposition or abstentions from 15 board members.
Araghchi said the action undermined the IAEA’s “credibility and independence” and would disrupt the agency’s cooperation with ...
