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World's Richest 1 Percent Control Half Of Global Wealth
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World's Richest 1 Percent Control Half Of Global Wealth

World's Richest 1 Percent Control Half Of Global Wealth

World's Richest 1 Percent Control Half Of Global Wealth
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  • <iframe src="https://www.npr.org/player/embed/264399917/264399918" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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The relief organization Oxfam says the wealthiest 85 people own the same proportion as the planet's poorest 3.5 billion people.

STEVE INSKEEP, HOST:

NPR's business news begins with the world's richest people.

(SOUNDBITE OF MUSIC)

INSKEEP: In particular, a focus here on the 85 richest people in the world. Those 85 rich people have a combined wealth of $1.7 trillion, we're told, which is the equivalent to the amount of wealth shared by the poorest half of the entire world population.

The new findings were part of a study released yesterday at the World Economic Forum in Davos, Switzerland. The same study also calculates that the world's richest 1 percent - so a slightly larger group now - controls almost 50 percent of global wealth.

The report also says that tax rates for the richest people have fallen in most developed countries since the 1970s.

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