Eight persons own the fifty percent of world's total wealth!

It goes without being said that the inequality in the world is widening every passing day.Rich are getting richer and the poor are left in a shambles.Now a latest study has found out that eight men own the same wealth as half the world’s population.This is a level of inequality which “threatens to pull our societies apart”, the economic agency Oxfam said on Monday ahead of the World Economic Forum opening in Davos. Presenting its findings on the dawn of the annual gathering of the global political and business elites in the Swiss ski resort of Davos, anti-poverty organization Oxfam says the gap between the very rich and poor is far greater than just a year ago. It’s urging leaders to do more than pay lip-service to the problem. “It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 a day,” said Winnie Byanyima, executive director of Oxfam International, who will be attending the meeting in Davos. “Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.” The same report a year earlier said that the richest 62 people on the planet owned as much wealth as the bottom half of the population. However, Oxfam has revised that figure down to eight following new information gathered by Swiss bank Credit Suisse.

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Fashion

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The 70th annual Cannes Film Festival is currently taking place from 17 to 28 May 2017, in Cannes, France.

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