Wealth of British billionaires increased by £35m per day last year, Oxfam study finds

https://morningstaronline.co.uk/article/wealth-british-billionaires-increased-ps35m-day-last-year-oxfam-study-finds [20 Jan 2025]

BRITISH billionaires’ wealth surged by £35 million a day last year, new research reveals, as the rest of the nation worries about energy bills.

According to a report by Oxfam released today, the collective wealth of billionaires in Britain increased to a total of £182 billion in 2024.

The amount would be enough to cover the whole of Manchester in £10 notes one and a half times, the charity said.

The same report revealed that global billionaire wealth grew by $2 trillion (£1.6bn) in 2024 — three times faster than the year before.

Oxfam inequality policy lead Anna Marriott said that the world is on course for the emergence of at least five trillionaires within a decade.

“The global economic system is broken, wholly unfit for purpose as it enables and perpetuates this explosion of riches while nearly half of humanity continues to live in poverty,” she said.

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https://morningstaronline.co.uk/article/wealth-british-billionaires-increased-ps35m-day-last-year-oxfam-study-finds [20 Jan 2025]