The 1% Will Own Most World’s Wealth By 2016 – Smarter Finance Journal

The 1% Will Own Most World’s Wealth By 2016

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Yes. It’s true. The rich are getting richer!

The latest prediction from the charity Oxfam, states that the wealth accumulated by the richest 1 percent will exceed that of the other 99 percent in 2016.

Economic inequality is now set to reach a huge tipping point, and this type of rift will most likely only continue, separating the rich and poor more than ever.

Oxfam is set to deliver a more detailed report at the annual World Economic Forum in Davos, Switzerland, which is set to kick off on Wednesday. More than 2,500 of the world’s elite will fly to event on hundreds of private jets.

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Oxfam executive director Winnie Byanyima said: “Do we really want to live in a world where the 1 percent own more than the rest of us combined? The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast.”

While the elite stay in posh hotels, and eat the best cuisine, wearing fancy suits while discussing financial markets and trends, more than 1 billion people on the planet continue to live on less than $1.25 a day.

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