Why are people obsessed with billionaires

8 men own as much as the poorer half of the world's population

You will always find the on our topic pagelatest Oxfam reports on the subject"S.social inequality.

Social inequality more blatant than previously known

Every year Oxfam analyzes global wealth distribution statistics. We published the latest surveys at the start of the World Economic Forum in Davos in our report “An Economy for the 99 Percent”. We were able to access even better data than in previous years. The result: The eight richest billionaires - all men - had more wealth than the entire poorer half of the world's population in 2016:

The new Oxfam report also shows that the richest percent of the world's population owns 50.8 percent of the world's wealth - more than the remaining 99 percent combined.

Rich countries are also affected by social inequality: In Germany, 36 billionaires own as much wealth (297 billion US dollars) as the poorer half of the population, the richest percent own around a third of the total wealth (31 percent; 3.9 trillion US dollars) -Dollar).

Update: A response to criticism of the report's methodology

Advantages at the expense of the common good

The concentration of wealth in the hands of a few is steadily increasing, while hundreds of thousands do not have enough to eat and billions of people live more poorly than right. This is also related to the power of international corporations: They use aggressive tax avoidance techniques, shift their profits to tax havens and drive states into a ruinous race for low tax rates.

We are all the losers! It affects the people in poor countries hardest. Due to tax avoidance, these states are currently missing at least 100 billion US dollars a year.

We want a society in which school attendance, medical care and a dignified life are not privileges. However, due to corporate tax tricks, many governments lack money for education, health and social security. This is especially tough for those who already have little - anywhere in the world.

In many places, real wages are stagnating, while managers and major shareholders allow each year increasing amounts in the millions. More and more people around the world feel left behind and lose faith in democracy. Inequality prepares the ground for right-wing populists and other enemies of a solidary society.

We say: people are more important than profits!

We finally need a policy that focuses on people rather than profits and counteracts the extreme inequality that affects us all. This includes a fair tax policy that forces international corporations and the super-rich to pay their fair share of the financing of education, health care and social security.

Angela Merkel and Sigmar Gabriel must work to ensure that

  • a worldwide minimum tax rate is introduced for corporations;
  • Tax havens are abolished;
  • Corporations have to disclose where and in what amount they pay taxes.