Oxfam: The wealth of the world's richest 1% to exceed that of the other 99%

Oxfam’s latest research found that the scale of global inequality is staggering and getting worse.

16:17 19 January 2015

Anti-poverty charity Oxfam has found that the wealth of the world’s richest will exceed the total assets of 99% of the global population. Based on the report it released, the wealthiest 1% have seen their share of global assets increase from 44% in 2009 to 48% last year.

The figure is on track to exceed 50% within the year.

Based on the figures released, the richest 1per cent has an average total wealth of £1.8m each while 80per cent of the world’s population own just an average of £2,500 each.

Oxfam International executive director Winnie Byanyima said: "Do we really want to live in a world where the 1% 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."

She added: "In the past 12 months we have seen world leaders from President Obama to Christine Lagarde talk more about tackling extreme inequality, but we are still waiting for many of them to walk the walk.”