"The world’s five richest men more than doubled their fortunes from $405 billion to $869 billion since 2020, while almost 5 billion people around the world became poorer, according to a new report that calls for public action to confront growing inequality.

"Released Monday to coincide with the start of The World Economic Forum in Davos, Switzerland, Oxfam’s Inequality Inc. states that the past three years since the start of the COVID-19 pandemic has seen a solidification of “a supercharged surge in extreme wealth” while global poverty remains at pre-pandemic levels.

"As an example of the growing inequality, the report states that the five richest men of Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison and Warren Buffett saw their wealth jump 114% in the past three years, while the bottom 60% of the world’s population lost a collective $20 billion, a decline of 0.2%."

– Darryl Coote