Richest 62 billionaires own half of World’s wealth

The world's richest 62 billionaires have as much wealth as the bottom half of the world's population, a report by Oxfam has revealed. The richest have seen their net worth spike exponentially over the last five years. In 2010, 388 rich people owned half the money on Earth. In 2015, the top 1% was found to own more than the entire income of the planet.

Oxfam released its annual report ahead of the World Economic Forum in Davos. This study draws from the Forbes list of billionaires and Credit Suisse's Global Wealth Databook.

The incredible income inequality in the world has been a pressing matter of concern. The top 62 billionaires saw their net worth rise by more than half a trillion dollars between 2010 and 2015 while 3.6 billion people in the bottom half lost a trillion dollars.

The differences in income are really stark. The poorest 20% of the world are living on less than $1.90 a day, and their incomes barely increased between 1988 and 2011, while the rich 10% saw a 46% hike in income levels.

Image credit: Indiatimes