World's 26 richest as rich as poorer half of world
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READING:
The wealth of the world's 26 richest people is equal to that of the 3.8 billion poorest. This shocking statistic is in a report from Oxfam. The number of billionaires has doubled since 2008. They are getting $2.5 billion richer every day. In contrast, the wealth of the poorest people is falling. Prices and rents are rising and wages are falling. Oxfam said the gap between the world's rich and poor is growing. This is creating a wealth inequality.
Oxfam says most wealthy people got rich from technology companies. The world's richest person is Amazon's CEO. He is worth $100 billion. This is 100 times more than Ethiopia's health budget. Oxfam wants to fix this imbalance in wealth. It wants fairer levels of tax, more tax on company profits, and an end to tax avoidance schemes that big companies and the super-rich use. In many countries, only the rich can afford quality education and healthcare.
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