Oxfam said it had reviewed its 2016 findings that 62 billionaires owned the same wealth as the poorest half of the planet after new and better data on distribution of wealth, particularly in India and China.
But when the inequality radar was brought closer to home, just three billionaires in South Africa emerged as owners of the same wealth as the bottom 50 percent of the population.
Oxfam presented the data during the release of its inequality report titled "An Economy for the 99 percent" in Johannesburg on Monday. The report was released to coincide with the 47th World Economic Forum Annual Meeting held in Davos-Klosters, Switzerland, from Tuesday to Thursday under the theme "Responsive and Responsible Leadership".
The report details how big business and the super rich, according to Oxfam, were fuelling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics.