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One billionaire was added to the world every 30 hours during the pandemic

2022-05-24 17:18:24Biznes SHKRUAR NGA REDAKSIA VOX
One billionaire was added to the world every 30 hours during the pandemic
One billionaire was added to the world every 30 hours during the pandemic

The coronavirus pandemic has filled the accounts of the rich even more. About 573 people have joined the list of the world's billionaires since 2020, according to figures released Sunday by Oxfam. Practically, during the pandemic, one billionaire was added to the world every 30 hours.

The report, compiled from Forbes data, analyzes the rise in inequality in the last two years and is published during the organization of the World Economic Forum in Davos, Switzerland, where the richest people and leaders of the globe gather.

The wealth of billionaires has grown by a total of $ 3.8 trillion over these two years, or 42%, reaching a total value of $ 12.7 trillion. A large part of this gain is attributed to the increase in the value of stock market shares, thanks also to the injection of money by the governments of different states, to mitigate the blow given by the pandemic.

Most of the profit was realized during the first year of the pandemic, while the pace now seems to have slowed down.

According to the report, in the same period, due to Covid-19, 263 million people ended up in extreme poverty, undoing a progress that took decades to achieve.

Oxfam says agribusiness billionaires have the largest increase in wealth, at $ 382 billion, or 45%. Since 2020, about 62 new billionaires have been created in this field. While the wealth of billionaires in the hydrocarbon industry increased by $ 53 billion, or 24%.

The 40 new billionaires were created during the pandemic in the pharmaceutical industry, which has also played a key role in the fight against Covid-19, while also benefiting billions from public spending.

Billionaires in the tech sector have increased their fortune by $ 436 billion over the past two years. No wonder 7 of the 10 richest people in the world are from this industry.


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