World billionaires have more than 60 %s wealth of the entire population on the planet

The sexting economy” is worsening global income inequality, while the number of billionaires has doubled in the last decade, the international charity organisation Oxfam says in the new report.

Titled “Time for Caution”, the report says that 2,153 billion world billions possess more wealth than 4.6 billion people, who make up 60 percent of the planet's population.

The gap between rich and poor cannot be solved without policies fighting inequality, and very few governments are engaged in this direction”, said Oxfam's chief executive in India, Amitabh Behar.

The report also notes that 22 richest men in the world have more wealth than all women in Africa.

The Oxford annual report on global inequality usually appears before the World Economic Forum, which this year begins works on January 21st in Davos, Switzerland.

Our broken economics are filling the pockets of billionaires and big businesses, at the expense of ordinary men and women”, said Behar, who is located in Davos to represent the Oxford Group of nongovernmental organisations. / REL/