London – The richest one per cent will own more wealth than the rest of the world’s population put together next year.
This is inevitable unless rising inequality is checked, Oxfam warned today ahead of the World Economic Forum meeting in Davos.
Members of the global elite are worth on average $2.7m, in stark contrast with more than a billion people who still live on less than $1.25-a-day. Oxfam executive director Winnie Byanyima is calling for a crackdown on tax dodging by corporations and more action on climate change.
The exclusive Swiss gathering for the elite doesn’t come cheap: there are several levels of membership, starting at tthe basic level, which will get you one invitation to Davos and costs 50 000 Swiss francs, or about $52,000.
The ticket itself is another 18 000 Swiss francs ($19,000), plus tax, bringing the total cost of membership and entrance fee to $71 000.
But that will just get you in the door, with entry to all the general sessions – and does not even take into accoutn the cost of getting and staying there.
Daily Mail