New wealth of top 1% surges by over $52.4 trillion since 2015 – enough to end poverty 22 times over, as Oxfam warns global development “abysmally off track” ahead of crunch talks

The world’s richest 1% increased their wealth by more than $52.4 trillion in real terms since 2015 when the Sustainable Development Goals were agreed, reveals new Oxfam analysis ahead of the world’s largest development financing talks in a decade, in Seville, Spain. This is more than enough to eliminate annual poverty 22 times over at the World Bank’s highest poverty line of $12.83 a day. The wealth of just 3,000 billionaires has surged $6.5 trillion in real terms since 2015, and now comprises the equivalent of 14.6% of global GDP.