7 facts about wealth inequality that will shock and infuriate you.
1. 26 billionaires own the same wealth as 3.8 billion people or half the population of the world. -According to the report, the number of billionaires rose at the rate of one every two days between March 2017 and March 2018. Combined, they amassed more than $762 billion in one year.
2. The poorest half of the world live on less than USD$5.50 a day. -Despite progress in reducing extreme poverty, nearly half the world's population live on less than US$5.50 a day, with a rising share of the poor in wealthier economies, the World Bank said .
3. While the world's 2,208 billionaires made an extra $940 billion in 2018 , the world's poorest half saw their wealth drop by 14%. -Poor people suffer twice from being deprived of basic services and also paying a higher burden of taxation. Billionaire fortunes increased 12% in 2018, or $2.5bn a day, while the 3.8-billion poorest people saw their wealth drop $500m every day.
4. If the world's richest 1% paid 0.5% more tax , the world could educate the 262 million children out of school and save the lives of the 10,000 people whi die everyday simply because they can't access healthcare.
5. Women are more likely to be among the very poorest due to the unpaid care and household work they do . -Gender inequality is one of the oldest and most pervasive forms of inequality in the world. It denies women their voices, devalues their work and make women’s position unequal to men’s, from the household to the national and global levels. Credit: WORLD ECONOMIC FORUM
Poverty deprives people of adequate education, health care and of life's most basic necessities- safe living conditions (including clean air and clean drinking water) and an adequate food supply. The developed (industrialized) countries today account for roughly 20 percent of the world's population but control about 80 percent of the world's wealth.
Poverty and pollution seem to operate in a vicious cycle that, so far, has been hard to break. Even in the developed nations, the gap between the rich and the poor is evident in their respective social and environmental conditions.