Since 2020, the richest five men in the world have doubled their fortunes, Oxfam reports.
At the same time, almost five billion people globally have become poorer. Hardship and hunger are a daily reality for many people worldwide.
At current rates, it will take 230 years to end poverty. But we could have our first trillionaire in a decade.
Monopolies exacerbate inequality. Seven out of ten of the world’s biggest corporates have either a billionaire CEO or a billionaire as their principal shareholder.
To end extreme inequality, Oxfam says that governments should redistribute the power back to ordinary people.
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