>do as they say and not as they do
>let them eat cake
The richest one per cent grabbed nearly two-thirds of all new wealth created since 2020, worth $42 trillion, almost twice as much money as the bottom 99 per cent of the world's population, according to a new Oxfam report.
"Survival of the Richest" is being released as political and business elites gather at the World Economic Forum in Davos, Switzerland this week. These elites are gathering in the Swiss ski resort as extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years.
In Canada, billionaires have seen their wealth grow by a staggering 51 per cent since the pandemic began. This accelerated a trend that was already driving wealth inequality in Canada over the past decade. For every $100 of wealth created in the last 10 years, $34 has gone to the richest 1 per cent and only $5 to the bottom 50 per cent. This means that the richest 1 per cent have gained nearly seven times more wealth than the bottom 50 per cent in the last 10 years.
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Billionaires have seen extraordinary increases in their wealth. During the pandemic and cost-of-living crisis years since 2020, $26 trillion (63 per cent) of all new wealth was captured by the richest one per cent, while $16 trillion (37 per cent) went to the rest of the world put together. A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 per cent. Billionaire fortunes have increased by $2.7 billion a day. This comes on top of a decade of historic gains — the number and wealth of billionaires having doubled over the last ten years.
Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The Oxfam report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 per cent) of that to rich shareholders.
https://finance.yahoo.com/news/richest-1-bag-nearly-twice-000500606.html
billionaires collectively ask "me we have another plandemic, please?