NGO Oxfam Flags Wealth Inequality Deepening as WEF Begins in Davos

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Amitabh Behar, executive director of Oxfam International, said that the billionaire’s wealth exploded enormously, while 44% of the global population, which is 3.6 billion people, is still below the poverty line.

Oxfam is highlighting wealth inequality at the World Economic Forum, which kicked off in Davos. According to Oxfam, billionaires’ wealth trebled in 2023. However, the number of people living in poverty has barely changed.

Amitabh Behar, executive director of Oxfam International, said that the billionaire’s wealth exploded enormously, while 44% of the global population, which is 3.6 billion people, is still below the poverty line. These observations will engage the attention of over 3000 business people and government officials, who will be participating in the Forum.

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Importantly, at the same time, it coincides with billionaire Donald Trump’s inauguration as U.S. president; outgoing President Joe Biden recently called for billionaires to start to ‘pay their fair share’.