At the same time, a survey says that the covid outbreak drives the biggest increase in income inequality ever seen
The world has gained 573 new billionaires since 2020, when the covid-19 pandemic began, according to data from the NGO (Non-Governmental Organization) Oxfam released this Monday (May 23, 2022).
The study shows that the total wealth of the 2,668 billionaires on the planet is equivalent to 13.9% of global GDP, a slice that is almost triple what it was in 2000 (4.4%), and amounts to US$ 12.7 trillion. (equivalent to BRL 61 trillion at current prices, or 38 times Brazil’s GDP). Check out the intact of the survey (314 MB).
During the pandemic, a new billionaire emerged every 30 hours, according to the research. In the same period, the income of 99% of humanity fell because of covid, as a total of 125 million full-time jobs were lost in 2021.
The study states that, in 2021, the income of the poorest 40% recorded the sharpest drop, which was, on average, 6.7% lower than pre-pandemic projections. According to Oxfam, this produced “an increase in income inequality, which had been decreasing since the 2000s, as measured by the Gini indexbut which in 2020 increased by 0.3% in emerging and developing economies”.
An example of billionaires is businessman Elon Musk, the richest man in the world. According to Oxfam, he is so rich that he could lose 99% of his fortune and still be among the richest 0.0001% in the world. Since 2019, his equity has increased by 699%.
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