• Survival of the Richest

• Oxfam

date

• Jan 2023

Executive Summary

• Since 2020, the richest 1% have captured almost two-thirds of all new wealth
  • nearly twice as much money as the bottom 99% of the world’s population.
• Billionaire fortunes are increasing by $2.7bn a day,
  • even as inflation outpaces the wages of at least 1.7 billion workers, more than the population of India.7
• Food and energy companies more than doubled their profits in 2022,
  • paying out $257bn to wealthy shareholders,
  • while over 800 million people went to bed hungry
• Only 4 cents in every dollar of tax revenue comes from wealth taxes and
  • half the world’s billionaires live in countries with no inheritance tax on money they give to their children.
• A tax of up to 5% on the world’s multi-millionaires and billionaires could raise $1.7 trillion a year,
  • enough to lift 2 billion people out of poverty, and fund a global plan to end hunger.