The Billionaires’ Club Accepts New Members

February 2019

The Billionaires’ Club Accepts New Members

Oxfam International has published the results of recent studies of the financial power of the richest people on Earth. Over the past decade, the number of dollar billionaires has doubled and reached 2208 people. Together they earn about 2.5 billion every day. Every day! And the wealth of the 26 richest of them was equal to the incomes of 3.8 billion poor people, i.e. most of the world's population.

Oxfam has offices in hundreds of countries and addresses poverty issues around the world. For 75 years since it was established this charitable organization with headquarters in Oxford, UK has become a very influential player in the political arenas both of individual states and even whole regions of the globe. Providing humanitarian aid (mainly food and medicine), its workers often demand that local authorities implement social programs to support health and education, create fair working and trade conditions.

The Oxfam report pays special attention to social justice. According to its authors, tax rates for the rich and their corporations have plummeted in recent years, while the incomes of the poorest part of humanity have decreased by 11%. Commenting on the main points of the report, Winnie Byanyima, executive director of Oxfam International, said, "Governments must now deliver real change by ensuring corporations and wealthy individuals pay their fair share of tax and investing this money in free healthcare and education that meets the needs of everyone – including women and girls whose needs are so often overlooked.”