Spiraling inequality won’t fix itself. We need a movement – Al Jazeera

Billionaire wealth surges by $2 trillion in 2024, three times faster than the year before, while the number of people living in poverty has barely changed since 1990 – Oxfam

• Oxfam predicts there will be at least five trillionaires a decade from now.
• 204 new billionaires were minted in 2024, nearly four every week.
• Sixty percent of billionaire wealth is now derived from inheritance, monopoly power or crony connections, as Oxfam argues that “extreme billionaire wealth is largely unmerited.” 
• Richest 1 percent in the Global North extracted $30 million an hour from the Global South through the financial system in 2023.
• Oxfam urges governments to tax the richest to reduce inequality, end extreme wealth, and dismantle the new aristocracy. Former colonial powers must address past harms with reparations.

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