The ultra-rich got richer as Covid worsened wealth divide, says study
Twenty-five years ago, billionaires controlled 1% of the world’s wealth. Now, 3.5% is in their hands
The share of global wealth held by billionaires surged to a record during the Covid-19 crisis, according to a group founded by French economist Thomas Piketty.
About 2,750 billionaires control 3.5% of the world’s wealth, the Paris-based Global Inequality Lab said in a report on Tuesday. That’s up from 1% in 1995, with the fastest gains coming since the pandemic hit, the group said. The poorest half of the planet’s population owns about 2% of its riches...