Super-Rich Wealth Surge: Oxfam 2024 Study The world gained 204 new billionaires in 2024 while millions face hunger. Oxfam calls for progressive taxation as inequality reaches alarming levels. Topics: News, Economy.

Super-Rich Wealth Surge: Oxfam 2024 Study

According to the latest Oxfam report, the wealth of the super-rich continued to grow at a staggering rate in 2024, three times faster than in 2023. The world gained 204 new billionaires, and their total wealth increased from 13 to 15 trillion dollars. Meanwhile, millions continue to suffer from hunger and poverty. How is this possible?

About the super-rich in 2024

Oxfam’s research shows that the wealth of 2,769 billionaires worldwide is growing by 2 million dollars per day. Against this backdrop, 733 million people suffer from hunger, and about 3.6 billion live in extreme poverty.

The number of billionaires grew by 204 in the past year. Germany, for example, has 130 billionaires with a total wealth of 625.4 billion dollars, most of whom inherited their assets. This underscores the widening gap between wealth and poverty.

Tax policy criticism

Oxfam also criticized tax policies, particularly in Germany, where the super-rich pay less tax than the middle class. This inequality in taxation further widens the gap between rich and poor. Oxfam calls for higher taxes on the wealthy to support social equality and improve the financial situation of the poorest.

Consequences of inequality

Growing inequality threatens democratic processes, as wealth translates into political influence. The super-rich often use their resources to advance their interests, potentially undermining equality and fairness.

Oxfam insists on measures to reduce the gap, including progressive taxation, social programs to fight poverty, and education and employment programs to help the poor access education and decent work.

Conclusion The Oxfam 2024 report highlights that super-rich wealth continues to grow, creating vast societal divides. While wealth concentrates in the hands of a few, millions live in poverty. A serious overhaul of the tax system and implementation of progressive measures are needed to create a fairer society.