Just 42 people own the same amount of wealth as the poorest 50 percent worldwide, a new study by global charity Oxfam claimed.
Approximately 82 percent of the money generated last year went to the richest 1 percent of the global population, the report said, while the poorest half saw no increase at all.
Last year, Oxfam said billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over.
Oxfam said its figures showed economic rewards were “increasingly concentrated” at the top. The charity cited tax evasion, the erosion of worker’s rights, cost-cutting and businesses’ influence on policy decisions as reasons for the widening inequality gap.