Oxfam revealed that the total value of the fortunes of 10 rich people has increased since the outbreak of the Corona epidemic by $ 540 billion.
The foundation said that this amount is sufficient to protect the entire world population from falling into poverty due to the virus, and to bear the cost of the vaccine for everyone.
The Oxfam report showed that the total wealth of these billionaires is equal to the spending of the governments of the G20 countries to recover from the virus.
The foundation urges governments to consider taxing the high net worth.
The report, titled “The Virus of Inequality”, was released at a time when world leaders were meeting virtually at the World Economic Forum’s “Davos Dialogue” meeting.
The report says that the unprecedented support by governments to their economies has led to a recovery in stock markets and an increase in the fortunes of billionaires, while the real economy faces its deepest recession in a century.
The report adds that the wealth of global billionaires increased by 3.9 trillion dollars between March 18 and December 31, to now reach 11.95 trillion dollars, equivalent to the total spent by the governments of the G20 countries on their response to the epidemic.
Among the 10 richest men – whose fortunes have increased by $ 540 billion since March 2020 – Amazon founder Jeff Bezos, Tesla founder Elon Musk, and Facebook founder Mark Zuckerberg.
The report says that Bezos made gains until September 2020, which were to be able to grant a reward of $ 105,000 to all of the 876,000 Amazon employees, while maintaining the same level of wealth as before the outbreak of the epidemic.
It could take more than a decade for the world’s poorest people to recover from the effects of the epidemic.
Oxfam estimates that the number of people living in poverty has increased by about 500 million as a result of the epidemic, in contrast to the decrease in the global poverty rate achieved over the past two decades.
“We think this is an opportunity to take a radical move to rebuild in a fairer way, to look at wealth taxes, to look at corporate taxes,” says Danny Sriskantrada, chief executive of Oxfam in Britain.
Referring to the United Kingdom, he said a tax could lead to millions.
Huge charitable donations have seen a relative increase since the start of the epidemic, with celebrities, sports stars and businessmen responding to the declaration of Covid 19 a global emergency and other humanitarian appeals.
Last month, MacKenzie Scott, Jeff Bezos’ ex-wife, revealed that she had donated more than $ 4 billion to food banks and emergency relief funds within four months.
In a post on her blog, Scott said she wanted to help Americans struggling with the pandemic.
Twitter co-founder Jack Dorsey announced in April that it had transferred $ 1 billion of his assets to a fund dedicated to supporting epidemic relief efforts and other humanitarian purposes.
This represents about a quarter of his net worth, which is estimated at $ 3.9 billion.
Bill Gates and his wife Melinda pledged to provide $ 305 million through their charitable foundation in favor of developing vaccines, treatments and diagnostic methods, while J.K. Rowling, author of the Harry Potter novels series, donated $ 1 million to help homeless people and those affected by domestic violence during the outbreak of the epidemic.
As of June of last year, Bezos is believed to have donated $ 125 million for efforts to combat the Coronavirus.