While poverty increased during the pandemic, the Corona virus doubled the fortunes of the world’s 10 richest people

The wealth of the world’s 10 richest men has doubled since the start of the “Covid-19” pandemic, while the incomes of 99% of humanity have fallen, according to a report published today, Monday, by Oxfam, which fights against inequality around the world.

“Inequality contributes to the death of at least 21,000 per day, that is, one person every 4 seconds,” the organization said in a report entitled “Inequality kills”, published ahead of the World Economic Forum in Davos, a copy of which will be held virtually from Monday.

“This is a conservative finding based on deaths globally from lack of access to health care, gender-based violence, hunger and climate breakdown,” she added.

The accumulated wealth of billionaires since the start of the “Covid-19” pandemic has witnessed an increase of $ 5 trillion, “the largest increase in the wealth of billionaires since the start of recording statistics”, to reach its highest levels, i.e. $13.8 billion.

According to Forbes magazine, the richest people in the world are Elon Musk (owner of Tesla), Jeff Bezos (Amazon), Bernard Arnault (LVMH), Bill Gates (Microsoft), Mark Zuckerberg (META/Facebook) and Warren Buffett ( Berkshire Hathaway) and Larry Ellison (Oracle).

progressive tax

Oxfam noted that extreme poverty can be combated through progressive taxation, ie “through taxation of permanent wealth and capital” and through systems of public health care free for all.

It recommended ending “laws that undermine workers’ rights to join unions and strike, and put in place stronger legal standards to protect them,” as well as “wealthy governments immediately waiving intellectual property rules for coronavirus vaccine technologies, to allow more countries to produce safe and effective vaccines to begin to end the pandemic.” .

A one-time tax of 99% on the 10 richest men could pay for the production of enough vaccines for the world’s population, universal health care and social protection, climate adaptation financing and the reduction of gender-based violence in more than 80 countries, the NGO noted. country”.

Despite this spending, “these men will remain $8 billion richer than they were before the pandemic,” according to Oxfam.

She explained, “The pandemic has helped billionaires amplify their wealth, as central banks have pumped trillions of dollars into financial markets to save the economy, but this has led to stuffing the pockets of billionaires.”

Oxfam, the World Economic Forum, has warned that significant inequality in access to COVID-19 vaccines could weaken the fight for global issues such as climate change.

The World Economic Forum in Davos was postponed to the summer due to the outbreak of the mutated omicron from “Covid-19”, but a virtual version of it will start Monday and continue until January 21.

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