wealth divide

The 2019 Rich List, published by the Australian Financial Review in late May, revealed that the wealth of the 200 wealthiest people in Australia has increased by more than 20% over the past year. Their combined wealth totalled a massive $342 billion.

As some of the rich and powerful gathered in Davos, Switzerland, for the World Economic Forum last month, Oxfam International issued a report revealing that the combined fortunes of the world’s billionaires rose by 12% last year as the poorest half of humanity saw their wealth decline by 11%.

Australia’s super-rich keep getting richer.

A new report from Oxfam has found that the top 1% of the country’s plutocrats now own more wealth than the bottom 70%.

There has also been a record rise in the number of billionaires — from 33 to 43 — with their combined wealth now at almost $160 billion last year.

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