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Report: The Richest 1% Will Have More than the Rest of the Population by 2016

According to a new report from Oxfam, global wealth inequality is set to hit a shocking milestone by next year. The anti-poverty organization says that the richest 1 percent of people in the world will possess more than half of the world’s wealth by 2016. On average, those in the category of the richest 1 percent had a wealth of $2.7 million. When it comes to the super rich, the stats become even more staggering. The richest 85 individuals in the world have the same amount of money as the poorest 3.5 billion combined. The director of Oxfam told The Guardian that “one in nine people do not have enough to eat and more than a billion people still live on less than $1.25 a day.” Their “Wealth: Having It All and Wanting More” report comes ahead of the upcoming World Economic Forum, where politicians from around the world will gather to discuss financial policies …

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