(LATIMES) — The 85 richest people on Earth have the same amount of wealth as the bottom half of the population, according to a new report that highlights growing income inequality as political and business leaders gather for the annual World Economic Forum in Davos, Switzerland.
Those wealthy individuals are a small part of the richest 1% of the population, which combined owns about 46% of global wealth, according to the report from British humanitarian group Oxfam International.
The study found the richest 1% had $110 trillion in wealth — 65 times the total wealth of the bottom half of the population.
That bottom half of the population owned about $1.7 trillion, or about 0.7% of the world’s wealth. That’s the same amount as owned by the 85 richest people, the report said.
