DAVOS

Pandemic creates new billionaire every 30 hours as countries like Philippines log higher poverty rates

May 23, 2022

As the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion dollars every two days. For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty […]

Mega-rich recoup COVID-losses in record-time yet billions will live in poverty for at least a decade

January 27, 2021

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today. ‘The Inequality Virus’ is being published on the opening day of the World […]