The world’s billionaires have become richer as a result of the pandemic than in the past 23 years

Charity Oxfam claims there are now 2,668 billionaires in the world, 573 more than in 2020, and they are collectively worth an estimated £10.2 trillion

SpaceX founder Elon Musk is worth £174 billion
SpaceX founder Elon Musk is worth £174 billion

The world’s billionaires have gotten richer than in any 23-year period since the start of the Covid crisis, Oxfam reports.

The charity says there are now 2,668 billionaires worldwide, up 573 from 2020.

They are collectively worth £10.2 trillion – an increase of £3 trillion since the pandemic began.

Oxfam said her wealth has grown more over the past two years than it did between 1987 and 2010.

Some have been fueled by a rise in share prices due to increased demand for products.

Profits have risen for food and energy giants, including US food company Cargill, according to Oxfam.

Amazon founder Jeff Bezos is worth £114 billion



In the tech sector, Apple, Microsoft, Tesla, Amazon and Alphabet (Google) reported $217 billion in profits in 2021, according to Oxfam.

But rising energy and food prices have wreaked havoc on others. Oxfam recently warned that up to 263 million more people could be pushed into extreme poverty this year.

Their report, Profiting from Pain, is published as governments, business leaders and billionaires gather at the World Economic Forum in Davos.

Danny Sriskandarajah, CEO of Oxfam GB said: “There is no excuse for governments not to deal with gargantuan profits and wealth.

“Implementing wealth taxes would bring in huge sums that could help vulnerable groups weather this crisis.

“In the UK, a windfall tax for energy companies would be a good place to start.”

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Fry Electronics Team

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