Money shocker! Massive amounts these people make in just 1 day will make your eyes tear-up
Indian billionaires saw their wealth swell by Rs 2,200 crore a day last year. Not just that, the top 1% of the country's richest got richer by 39% as against just 3% increase in wealth for the bottom half of the population, an Oxfam study said. Not impressed? Then read this - the poorest suffered a decline in wealth in 2018! Yes, you read that right - A DECLINE! Read more such eye-popping details below:
It (the survey) reveals how government are exacerbating inequality by underfunding public services, such as healthcare and education, on the one hand, while undertaxing corporations and the wealthy, and failing to clamp down on tax dodging on the other- Amitabh Behar, CEO, Oxfam India. The survey also shows that women and girls are hardest hit by rising economic inequality, he added. (Image Source: Reuters)
Rise in billionaires' fortunes
12% rise in billionaires' fortunes globally a day in 2018. (Image Source: Reuters)
Decline in wealth
11% decline in wealth by poorest was seen last year(Image Source: Reuters)
77.4% of total wealth held by top 10%
77.4% of the total national wealth in India is held by the top 10% of the population. (Image Source: Reuters)
Top 1% holds 51.53% wealth
51.53% of the national wealth is held by top 1%. ( Image source: reuters)
60 percent population with just 4.8 percent wealth
60% the majority of the population owns merely 4.8% of the national wealth(Image Source: PTI)
13.6 crore makes up the poorest 10%
13.6 crore- Indians, who make up the poorest 10% of the country, continued to remain in debt since 2004(Image Source: Reuters)
26 people's wealth = 3.8 billion people's money
26 people now own the same as the 3.8 billion people who make up the poorest half of humanity, down from 44 people last year. Surely, that is a blessing, of sorts. (Image Source: Reuters)
New millionaires
70- New dollar millionaires are expected to be produced every day between 2018 and 2022, Oxfam said. (Image Source: Reuters)