[Image: Gencraft/AI]
A new Oxfam report has landed with the force of a mic drop—and it’s saying what many have suspected for years: the rich aren’t just getting richer, they’re practically hoarding the world’s wealth like dragons on a gold pile.
Titled “From Private Profit to Public Power: Financing Development Not Oligarchy” (because apparently even Oxfam can throw shade), the report shows that since 2015, the top 1%—that’s about 3,000 billionaires—have raked in $33.9 trillion. Yes, with a T.
That’s enough money to end global poverty 22 times over, based on the World Bank’s standard of $8.30 a day. (Or Rs 710 if you’re counting in Indian Rupees and feeling extra depressed.)
While the ultra-wealthy were busy turbocharging their bank balances, 3.7 billion people are still living in poverty, and 60% of low-income countries are tottering on the brink of a debt crisis. Oh, and the cherry on top? The richest 1% now own 47% of the world’s assets. That’s nearly half. For one per cent of the population. Make it make sense.
To drive the dagger in deeper, the report says that between 1995 and 2023, private wealth ballooned by a jaw-dropping $342 trillion—eight times more than public wealth, which limped along with a mere $44 trillion. In fact, public wealth has shrunk in its share of total wealth since 1995. Translation: the people’s slice of the pie is not just smaller—it’s getting repossessed.
Naturally, the internet had feelings.
PRESS RELEASE: New wealth of top 1% surges by over $33.9 trillion since 2015 – enough to end poverty 22 times over. Our new research shows global development “abysmally off track” ahead of #FFD4.
https://t.co/0ZyAgbE6r6 pic.twitter.com/EGoqv7jaVS— Oxfam in Asia (@OxfamInAsia) June 30, 2025
One user snarked, “How would it have been if the $33.9 trillion had been lost instead of created? Without wealth creation, there would be nothing to redistribute or expropriate.” Another chimed in, “New wealth of top 1% surges by over $52.4 trillion since 2015 – enough to end poverty 22 times over. Just once would do… if they bothered.”
A third user brought the fire: “And so I ask … DO THEY REALLY NEED MORE TAX BREAKS while MAKING US PAY FOR THEM ?? This is stupid crazy !!! Wake up, people – this is so wrong !!”
And the most sobering take? “But at the same time, most people didn’t see anything close to that kind of growth. Wages barely moved. Cost of living shot up. The gap keeps growing. Building wealth isn’t bad, but if most of the world is left behind, it becomes a real problem.”
I mean it’s not just a gap anymore, it’s a canyon.
And the billionaires are sipping cocktails on one side while the rest of us are still trying to afford rent on the other.
[Source: Mashable]
