The eight richest people on the planet are worth more than the combined wealth of half the world’s population.
An analysis by Oxfam finds the eight multibillionaires have a combined fortune of $426billion (£351billion).
By contrast half the planet’s population, some 3.6billion people, have a combined wealth of $409billion (£337billion).
Mark Goldring, Oxfam GB Chief Executive, said: “This year’s snapshot of inequality is clearer, more accurate and more shocking than ever before.
"It is beyond grotesque that a group of men who could easily fit in a single golf buggy own more than the poorest half of humanity.”
Oxfam said its report, An Economy for the 99%, showed the gap between rich and poor “is far greater than had been feared.”
It said the concentration of wealth at the top was holding back the fight to end global poverty and said business were increasingly focused on delivering “ever-higher returns to wealthy owners and top executives.”
“Companies are structured to dodge taxes, drive down workers’ wages and squeeze producers instead of fairly contributing to an economy that benefits everyone,” the report said.
The report found that between 1988 and 2011 the incomes of the poorest 10% increased by just $65, while the incomes of the richest 1% grew by $11,800 – 182 times as much.
