By CNBCTV18.com Jan 17, 2022 1:53:00 PM IST (Updated)
The world’s richest 10 have seen their wealth double to $1.5 trillion since the beginning of COVID-19, widening the inequality gap between the rich and the poor. This, when the incomes of 99 percent of the world’s total population went down during March 2020 and October 2021.
Since the beginning of the COVID-19 pandemic, the world’s richest 10 have seen their global wealth double to $1.5 trillion, widening the inequality gap between the rich and the poor, The Guardian reported quoting Oxfam data.
As the ultra-rich reaped gains from the stimulus packages provided by governments around the world, 163 million more people were pushed below the poverty line, Oxfam reported quoting data from the World Bank.
The year 2021 also saw increased investor interest in stock prices that have boosted the fortunes of some tech titans.