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Fortune of World’s Ten Richest People Grew by 449 Billion Euros


The consequences of the coronavirus pandemic have been disastrous for millions of people. All over the world, businesses are closing their doors, more people are suddenly unemployed and poverty is growing at an alarming rate. National economies face the spectre of the worst recession since the 1930s, or possibly ever.

However, a very small group of people are on a different side of the barricade, to such an extent that the pandemic has even been beneficial.

According to a study undertaken by Oxfam, the worlds ten richest people have seen their combined wealth increase by 449 billion euros during the pandemic. According to Oxfam, such a sum would be enough to vaccinate the entire world’s population against Covid-19, and to reverse the increasing level of poverty caused by the pandemic.

Oxfam adds that the inequality generated by Covid-19 can, for the first time since records began, lead to an increase in inequality in almost all countries in the world at the same time.

In a statement to the Guardian newspaper Danny Sriskandarajah, CEO of Oxfam Great Britain, said that “the virus has entered a world that was already deeply unequal, and without urgent action to make our economies work for everyone, things are going to get much, much worse!”

“Billions of people were already living on a knife edge before the pandemic started and lack the resources or support to weather this fearful storm. In countries around the world, we see people struggling to feed their families and keep a roof over their heads, while it is more difficult to get paid employment. At the same time, a small number of individuals have invested more money in nine months than they can spend in a lifetime. These facts are shameful. Governments cannot continue to allow this to happen, they must act. A fair taxation system of the rich can help with the global recovery, raise more money to fight poverty and help form more equal societies.”

Provided those societies are not ruled by corrupt governments!

Samantha Gannon

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