February 14, 2025
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Global Inequality: Rise of the Oligarchs | Bigger than Five
The world is more divided than ever, with billionaire wealth skyrocketing while 44% of the global population lives in poverty.
The charity Oxfam is predicting five trillionaires within a decade and its new report exposes how wealth is still being siphoned from the Global South to enrich the Global North at an alarming rate.
Oxfam Executive Director Amitabh Behar calls it ‘modern day colonialism’ and says there is a need for global tax reforms and the restructuring of financial institutions.
Matthew Blake from the World Economic Forum, which convenes the annual event for business leaders and policymakers in Davos, says his organisation is looking to ensure greater representation from the Global South in response to criticism that it only serves the elite.
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