You didn’t read that wrong. Only 62 people control more than half of the world’s money. This means that those 62 people have the same collective wealth as the world’s poorest 3.6 billion people, and the gap between rich and poor is growing wider and wider.
The statistics were released Sunday by Oxfam, an organization dedicated to fighting poverty, in the lead up to the World Economic Forum in Davos, Switzerland, which was scheduled to start on Wednesday.
The report states that the poorest 50% of the world’s population is worth an estimated $1.76 trillion, which is also the estimated net worth of the richest 62 people in the world. The report did not name the 62 richest people, but say they based their selection on reporting by Forbes.
The biggest area of concern in this report is that the group of the super-wealthy are getting richer, while the poor get poorer and the gap between rich and poor continues to grow drastically. Only five years ago, the majority of the world’s wealth was controlled by 388 people.