Kovid creates a new billionaire every 30 hours: Oxfam in Davos

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Oxfam has predicted that 263 million people will fall into extreme poverty this year. 10 lakh people will become poor every 33 hours. By comparison, 573 people became billionaires during the pandemic, or one person became a billionaire every 30 hours.

Davos :

The Kovid Pandemic has created a new billionaire every 30 hours and now one million people can go into extreme poverty at the same speed. Oxfam said this on the occasion of the return of Davos Summit on Monday. The international charity organization said that the time has come to tax the rich to support the less fortunate. Global elites have gathered for the World Economic Forum after two years of the Kovid period.

Oxfam has predicted that 263 million people will fall into extreme poverty this year. 10 lakh people will become poor every 33 hours. By comparison, 573 people became billionaires during the pandemic, or one person became a billionaire every 30 hours.

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“The billionaires are arriving in Davos to celebrate the incredible jump in their fortunes,” Oxfam Executive Director Gabriella Butcher said in a statement.

Butcher said, “The pandemic and now the huge increase in the prices of food and energy, simply put, it’s a bonus for them.”

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Oxfam called for a one-time “solidarity tax” on billionaires to get out of the pandemic while supporting those facing rising prices. Oxfam said a wealth tax of two percent annually on millionaires and five percent for billionaires could generate $2.52 trillion annually.

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Credit: ndtv.in /

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