Oxfam report: World's richest five double their wealth as poorest get poorer

Oxfam reveals that the combined wealth of the world's five richest men surged from $405 billion in 2020 to $869 billion in 2021. The report emphasizes the growing wealth concentration and increasing influence of the ultra-rich in shaping tax policies. It estimated that 148 top corporations made $1.8 trillion in profits, 52 percent up on 3-year average, allowing hefty pay-outs to shareholders. The report also sheds light on the disproportionate impact of inflation and wage stagnation, with nearly 800 million workers worldwide experiencing a decline in real wages.