“World has faced many problems to date. Every problem comes with a far-reaching effect. The Covid-19 pandemic, too, has left its mark, especially related to money,” Scorch said.
The Mysticals were discussing world matters and Scorch had a report from Oxfam. Oxfam is an organization that fights poverty and injustice. Oxfam’s latest report reveals that the pandemic has made the world’s wealthiest richer and pushed many into poverty.
“This is concerning. What data did the report use to draw this conclusion?” said Orak.
“Oxfam’s report is based on data from the Forbes Billionaires List and Credit Suisse Global Wealth report. These two reports trace the distribution of global wealth from the year 2000,” replied Scorch.
“These men have gained more wealth individually or all put together?” Felix was now interested in the discussion.
“All put together – collectively. The reports state that the 10 richest men in the world doubled their fortune since March 2020. Meanwhile, 99% of the world’s population, that is around 160 million more people, have been pushed to poverty. This is due to the lockdowns, lower international trade, less international tourism.”
“Something is deeply wrong with our world’s economic system,” Orak added.
“Truly, in fact, the report throws light on how lack of money led to the death of 21,000 people each day.
According to Forbes, the world’s 10 richest men are Elon Musk, Jeff Bezos, Bernard Arnault and family, Bill Gates, Larry Ellison, Larry Page, Sergey Brin, Mark Zuckerberg, Steve Ballmer, and Warren Buffet,” Scorch said.
“It is now up to the political leaders to ensure their people are not affected more. There is a need to balance out the economy and reduce the spread of poverty, global inequality, especially for the weaker countries,” concluded Orak.
The other three Mysticals nodded in agreement.