LONDON: The share of household wealth owned by billionaire has increased with a record number during a pandemic, with millionaires also out of Covid-19 in front, a study found on Tuesday.
Reports of world inequality produced by social scientist networks estimate that this year’s billionaire collectively has 3.5% of global household wealth, up from slightly above 2% at the beginning of the pandemic at the beginning of 2020.
“The Covid crisis has exacerbated the inequality between very rich and All populations, “said the main author of Lucas Chancel, noted that the rich economy used massive fiscal support to reduce sharp gains in poverty seen elsewhere.
The report attracted various specialist studies and public domain data, with the introduction written by economists based in ABHijit Banerjee and Esther Duflo, two trio who won the Nobel 2019 to work on poverty.
“Because wealth is the main source of economic benefits in the future, and increasingly, strength and influence, this registration is increasing in inequality,” they wrote about what they called “very small economic economic concentration in a very small minority hand.
Super Rich “.
These findings reinforce existing studies, “rich list” and other evidence that refer to improving health, social, gender and racial inequality during a pandemic.
The annual World of Forbes billionaire list this year includes 2,755 billionaires that break records with a combined value of $ 13.1 trillion, up from $ 8 trillion last year.
The new report showed that a broader group of 520,000 adults who formed the top 0.01% richest together seeing their part of global wealth reached 11% this year, up from 10% the previous year.
The property of the top 0.01% category in question has a household wealth of at least 16.7 million euros ($ 19 million), adjusted for the purchase of cross-currency parity, he said.
Analysts said some super-rich people had benefited from the online shift in the world economy during locking, while others were only obtained from the increase in asset prices as the financial market bet at the speed and form of global recovery.
The study also found that while poverty increased sharply in countries with weaker welfare coverage, massive government support in the United States and Europe could mitigate at least some of the lower recipients there.
“This shows the importance of social conditions in the war against poverty,” Chancel said.
Separately, it welcomed this year’s agreement at a 15% global minimum company tax rate as a possible milestone in an effort to stop the “downward race” which since the mid-1980s has caused every increase in company tax rates to around 24%.
However, the agreement was defective because the floor was 15% lower than what was paid on average in high-income countries and therefore offered carvings and the possibility of blurred arbitration to many affected companies.
Pandemic increases the share of very rich global wealth
