Oxfam says world's rich could end poverty (100 richest earned enough in 2012 to end global poverty)
Oxfam says world's rich could end poverty
UK-based charity says the world's 100 richest people earned enough in 2012 to end global poverty four times over.
The world's 100 richest people earned enough money last year to end world extreme poverty four times over, according to a new report released by international rights group and charity Oxfam.
The $240 billion net income of the world's 100 richest billionaires would have ended poverty four times over, according to the London-based group's report released on Saturday.
The group says that the world's richest one percent have seen their income increase by 60 percent in the last 20 years, with the latest world financial crisis only serving to hasten, rather than hinder, the process.
"We sometimes talk about the 'have-nots' and the 'haves'- well, we're talking about the 'have-lots'. We're anti-poverty agency. We focus on poverty, we work with the poorest people around the world. You don't normally hear us talking about wealth. But it's gotten so out of control between rich and poor that one of the obstacles to solving extreme poverty is now extreme wealth," Ben Phillips, a campaign director at Oxfam, told Al Jazeera.
Read more: http://www.aljazeera.com/news/europe/2013/01/...