Survival of Richest:1% of the Planet's Population Own Two-thirds of the World's Wealth

A new report published by the British Oxfam Organization revealed that the richest elite present 1 percent of people have acquired nearly two-thirds of all the $42 trillion in new wealth collected since 2020.

This volume of wealth equals twice the money earned by the 7 billion people who make up 99% of the world's population. Over the past decade, the richest 1 percent captured about half of all new wealth.

The "Survival of the Richest" report was published on the opening day of the World Economic Forum in Davos, Switzerland as the Swiss ski resort's elites converge on the rise of both extreme wealth and extreme poverty for the first time in 25 years.

According to the report, billionaires have witnessed an extraordinary increase in their wealth during the years of the pandemic and the crisis of the high cost of living since 2020. The richest 1% of people acquired $26 trillion (63%) of all new wealth, while $16 trillion (37%) went. Just to the rest of the world's population combined.