Global billionaire club swells by 50 in 2015 – while 767 million live in extreme poverty

Commenting on the release of the annual billionaires report by UBS and PwC, Max Lawson, Head of Policy for Oxfam’s Even It Up Campaign said:  

“Today’s report from UBS and PwC revealed that the global billionaires club gained 50 more members in 2015 - at a time when 767 million people are living in extreme poverty. This huge gap between rich and poor is bad news for economic growth, the fight against poverty, social stability and democracy.  

“With 500 people handing over $2.1 trillion - a sum the size of India's economy - to heirs in the next 20 years, its clear many billionaires are born and not self-made, and many hold onto their money by dodging tax.

“Politicians must act now to end the inequality crisis. Tax dodging, which deprives governments of billions of dollars in revenues, must be stopped and the money invested in public services such as health and education that benefit the poorest in society.”