The likes of Microsoft founder Bill Gates, Facebook CEO Mark Zuckerberg and Amazon boss Jeff Bezos are among a group that has a collective wealth of around $424 billion (£352b), which dwarfs the amount the poorest half of the world has.
‘It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 (£1.67) a day,’ said Winnie Byanyima, executive director of Oxfam International.
The anti-poverty group released the report prior to the annual World Economic Forum in Davos, Switzerland, involving global political leaders and business elites.
It added inequality was harming society and if it wasn’t addressed the world would continue to see seismic political changes like Brexit and Donald Trump being elected United States president.
World's richest billionaires
1. Bill Gates – net worth $75bn
2. Amancio Ortega – net worth $67bn
3. Warren Buffett – net worth $60.8bn
4. Carlos Slim Helu – net worth $50bn
5. Jeff Bezos – net worth $45.2bn
6. Mark Zuckerberg -net worth $44.6bn
7. Larry Ellison – net worth $43.6bn
8. Michael Bloomberg – net worth $40bn
(culled from the metro)