A new Oxfam report released on Monday states that the 62 richest billionaires now own as much wealth as the poorer half of the world’s population. That's correct: 62 individuals have as much wealth as half the people on Earth. The kind of wealth that lets people own sports teams. It's so much wealth that in some cases, the richest person in a country could conceivably alleviate poverty in much of their nation.
The discrepancy is getting worse, too. During the past five years, the rich got richer and the poor got poorer. The top 62 saw their net worth rise by more than half a trillion dollars, while the 3.6 billion people in the bottom half of the heap lost a trillion dollars.