October, 30 2014, 11:45am EDT

For Immediate Release
Contact:
Angela Corbalan, 0032 (0) 473 56 22 60 / angela.corbalan@oxaminernational.org
Number of Billionaires Doubles Since Financial Crisis as Inequality Spirals Out of Control
In same period at least a million mothers died in childbirth due to lack of basic health services
WASHINGTON
Rising inequality could set the fight against poverty back by decades (1), Oxfam warned today as it published a new report showing that the number of billionaires worldwide has more than doubled since the financial crisis. (2)
The report, Even it Up: Time to End Extreme Inequality, details how the richest people in the world have more money than they could ever spend while hundreds of millions live in abject poverty without essential health care or basic education.
In countries around the world, prosperity is not trickling down to ordinary people, but up to those at the top, whose exceptional wealth is growing ever more rapidly. The richest 85 people - who Oxfam revealed in January as having the same wealth as the poorest half of the world's population (3) - saw their collective wealth increase by $668 million per day between 2013 and 2014. That's almost half a million dollars every minute. (4)
Worldwide personalities talk about tackling extreme inequality
From the IMF to the Pope, from President Obama to the World Economic Forum, there is a growing consensus that inequality is a crucial challenge of our time and that failure to act is both economically and socially damaging. Despite the warm words, little action has materialised.
The Oxfam report, endorsed by Graca Machel, Kofi Annan and Joseph Stiglitz among others (5), is the opening salvo of a new Oxfam campaign, also called Even it Up, to push world leaders to turn rhetoric into reality and ensure the poorest people get a fairer deal. Action is needed to clamp down on tax dodging carried out by multinational corporations and the world's richest individuals. Big global corporations and the wealthiest people must pay their fair share to governments' coffers, so that countries can tackle inequality and build fairer societies.
A barrier to prosperity
Winnie Byanyima, Oxfam International Executive Director, said: "Far from being a driver of economic growth, extreme inequality is a barrier to prosperity for most people on the planet. Today wealth is trickling upwards, and will continue to do so until governments act. We should not allow narrow-minded economic doctrine and the self-interest of the rich and powerful blind us to these facts.
"Around the world millions of people are dying due to a lack of health care and millions of children are missing out on school, while a small elite have more money than they could spend in a lifetime.
"Inequality hinders growth, corrupts politics, stifles opportunity and fuels instability while deepening discrimination, especially against women," said Byanyima.
Investing for the many
The potential benefit of redistributing the wealth of the very richest, by even a tiny amount, tells a compelling story. A levy of just 1.5 per cent on the wealth of the world's billionaires today could raise enough each year to get every child into school and deliver health care in the poorest countries.(6)
The effect of curbing inequality would be as dramatic as would be the failure to act. In India, for example, halting the recent increase in inequality could enable 90 million more people escape extreme poverty by 2019.(7) In Kenya, 3 million more people could be pushed below the poverty line by the same year if inequality there remains at current levels rather than declining slightly.(8)
Byanyima added, "Tackling inequality is not about being envious of fast cars and super yachts - it's about the fact that the richest literally live longer and healthier lives than the poorest. We live in a world where there is plenty enough for everyone to improve their lot. Extreme inequality causes instability, conflict and even mental health problems that affect us all. It is time to even it up before it gets worse."
Investment in free public services will be crucial to closing the gap between the richest and the rest. Every year, 100 million people are driven into poverty because they are forced to pay for health care. From 2009-2014, at least one million women died in childbirth due to a lack of basic health services.(9) Meanwhile, education fees still exclude far too many. In Ghana, for instance, the poorest families would have to pay 40% of their income to send just one child to a low-fee school, underlining the importance of free education for all.
But for those at the top it's a different tale as they have enough assets to last them well beyond their years. If the world's three richest people were to spend $1m every single day each, it would take each one of them around 200 years to exhaust all of their wealth.(10) This is not a rich country story; today there are 16 billionaires in Sub-Saharan Africa, alongside the 358 million people living there in extreme poverty, while in South Africa, inequality is now greater than it was at the end of apartheid.
Oxfam International is a global movement of people who are fighting inequality to end poverty and injustice. We are working across regions in about 70 countries, with thousands of partners, and allies, supporting communities to build better lives for themselves, grow resilience and protect lives and livelihoods also in times of crisis.
LATEST NEWS
'Authoritarian Theater' Meets 'Pure F*cking Idiocracy' as Trump Promises White House UFC Match
"Americans, you won't have healthcare, Medicaid, public schools, nursing homes, rural hospitals, or SNAP," said one critic. "But, you'll get UFC fights on the White House lawn. America F-Yeah!"
Jul 05, 2025
Critics of President Donald Trump's announcement of a planned Ultimate Fighting Championship event on White House grounds to celebrate the United States Semiquincentennial next year took to social media Friday to call the proposal something "straight out of 'Idiocracy'"—the comedy cult classic about a dumbed-down 26th-century America—and condemn what one detractor called "authoritarian theater."
"Every one of our national park battlefields and historic sites are going to have special events in honor of America 250," Trump said at the Iowa State Fairgrounds Thursday. "We're going to have a UFC fight—think of this—on the grounds of the White House."
Yearning for a time when every new day isn't exponentially dumber than the day before.
[image or embed]
— Dave Vetter (@davidrvetter.bsky.social) July 4, 2025 at 2:57 AM
While Octagon aficionados cheered the prospect of a 1600 Pennsylvania Avenue fight card, many observers couldn't help but notice parallels with the plot of Mike Judge's 2006 film "Idiocracy," a satirical skewering of issues including the erosion of White House decorum in a future when IQs have plummeted and a sports drink corporation owns the country, whose voters elect Dwayne Elizondo Mountain Dew Camacho, "five-time ultimate smackdown champion and porn superstar," as president.
"If anyone defends Trump saying there will be a UFC fight on the White House lawn never listen to them again," former Republican Congressman Adam Kinzinger of Illinois wrote on the social media site X Friday, adding that Trump's announcement was like the "plot to 'Idiocracy' with an equally stupid-ass president."
Another X user fumed: "This is what happens when a failed empire hits rock bottom and throws a party about it. UFC fight on the White House lawn to celebrate 250 years of what used to be a country with brains. This ain't strength, this is pure fucking Idiocracy. Straight out of Rome before it burned, give the mob a fight and some burgers while the world collapses around them.
Yet another social media critic joked that "'Idiocracy' was actually a documentary from the future, sent back in time as a warning to us all."
Some critics pointed to the decadeslong business ties between Trump and UFC President and CEO Dana White, who has donated at least $1 million to Trump's campaign coffers.
Others noted the "bread and circuses" vibes of Trump's proposed event, which some called a cynical ploy meant to distract from the devastating impact of policies like Friday's signing of a multi-trillion-dollar tax cut that will overwhelmingly benefit the rich and corporations, while ballooning the deficit and leaving millions of Americans without desperately needed health insurance coverage and food assistance.
"Americans, you won't have healthcare, Medicaid, public schools, nursing homes, rural hospitals, or SNAP. But, you'll get UFC fights on the White House lawn," New York Times opinion contributor Wajahat Ali wrote on Bluesky. "America, F-YEAH!"
Writing for The Guardian Saturday, Karim Zidan asserted: "Donald Trump's UFC stunt is more than a circus. It's authoritarian theater."
"It carries shades of fascist Italy under Benito Mussolini, particularly its obsession with masculinity, spectacle, and nationalism—but with a modern, American twist," he wrote. "Fascist Italy used rallies, parades, and sports events to project strength and unity."
"Similarly, Trump has relied on the UFC to project his tough-guy image, and to celebrate his brand of nationalistic masculinity," Zidan continued. "From name-dropping champions who endorse him to suggesting a tournament that would pit UFC fighters against illegal migrants, Trump has repeatedly found ways to make UFC-style machismo a part of his political brand."
"There was once a time when the U.S. could point to the authoritarian pageantry of regimes like Mussolini's Italy and claim at least some moral distance. That line is no longer visible," he added. "What was once soft power borrowed from strongmen is now being proudly performed on America's own front lawn."
Keep ReadingShow Less
As Flood Deaths Rise, Texas Officials Blast Faulty Forecast by DOGE-Gutted National Weather Service
"Experts warned for months that drastic and sudden cuts at the National Weather Service by Trump could impair their forecasting ability and endanger lives during the storm season," said one critic.
Jul 05, 2025
As catastrophic flooding left scores of people dead and missing in Texas Hill Country and President Donald Trump celebrated signing legislation that will eviscerate every aspect of federal efforts to address the climate emergency, officials in the Lone Star State blasted the National Weather Service—one of many agencies gutted by the Department of Government Efficiency—for issuing faulty forecasts that some observers blamed for the flood's high death toll.
The Associated Press reported Saturday that flooding caused by a powerful storm killed at least 27 people, with dozens more—including as many as 25 girls from a summer camp along the Guadalupe River in Kerr County—missing after fast-moving floodwaters rose 26 feet (8 meters) in less than an hour before dawn on Friday, sweeping away people and pets along with homes, vehicles, farm and wild animals, and property.
"Everybody got the forecast from the National Weather Service... It did not predict the amount of rain that we saw."
"The camp was completely destroyed," Elinor Lester, 13, one of hundreds of campers at Camp Mystic, told the AP. "A helicopter landed and started taking people away. It was really scary."
Kerr County Sheriff Larry Leitha said during a press conference in Kerrville late Friday that 24 people were confirmed dead, including children. Other officials said that 240 people had been rescued.
Although the National Weather Service on Thursday issued a broad flood watch for the area, Texas Division of Emergency Management Chief Nim Kidd—noting that the NWS predicted 3-6 inches of rain for the Concho Valley and 4-8 inches for the Hill Country—told reporters during a press conference earlier Friday that "the amount of rain that fell in this specific location was never in any of those forecasts."
After media reports & experts warned for months that drastic & sudden cuts at the Nat Weather Service by Trump could impair their forecasting ability & endanger lives during the storm season, TX officials blame an inaccurate forecast by NWS for the deadly results of the flood.
[image or embed]
— Ron Filipkowski (@ronfilipkowski.bsky.social) July 5, 2025 at 3:19 AM
"Listen, everybody got the forecast from the National Weather Service," Kidd reiterated. "You all got it; you're all in media. You got that forecast. It did not predict the amount of rain that we saw."
Kerrville City Manager Dalton Rice also said during the press conference that the storm "dumped more rain than what was forecasted" into two forks of the Guadalupe River.
Kerr County judge Rob Kelly told CBS News: "We had no reason to believe that this was gonna be anything like what's happened here. None whatsoever."
Since January, the NWS—a branch of the National Oceanic and Atmospheric Administration (NOAA)—has reduced its workforce by nearly 600 people as a direct result of staffing cuts ordered by the Department of Government Efficiency, or DOGE, as part of Trump's mission to eviscerate numerous federal agencies.
This policy is in line with Project 2025, the Heritage Foundation-led blueprint for a far-right overhaul of the federal government that calls for "dismantling" NOAA. Trump has also called for the elimination of the Federal Emergency Management Agency, arguing that states should shoulder most of the burden of extreme weather preparation and response. Shutting down FEMA would require an act of Congress.
Many of the fired NWS staffers were specialized climate scientists and weather forecasters. At the time of the firings, Rep. Jared Huffman (D-Calif.), the ranking member of the House Natural Resources Committee, was among those who warned of the cuts' deadly consequences.
"People nationwide depend on NOAA for free, accurate forecasts, severe weather alerts, and emergency information," Huffman said. "Purging the government of scientists, experts, and career civil servants and slashing fundamental programs will cost lives."
Writing for the Texas Observer, Henry D. Jacoby—co-director of the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change—warned that "crucial data gathering systems are at risk."
"Federal ability to warn the public is being degraded," he added, "and it is a public service no state can replace."
On Friday, Trump put presidential pen to congressional Republicans' so-called One Big Beautiful Bill Act, a $4 trillion tax and spending package that effectively erases the landmark climate and clean energy provisions in the Inflation Reduction Act signed by then-President Joe Biden in 2022.
As Inside Climate News noted of the new law:
It stomps out incentives for purchasing electric vehicles and efficient appliances. It phases out tax credits for wind and solar energy. It opens up federal land and water for oil and gas drilling and increases its profitability, while creating new federal support for coal. It ends the historic investment in poor and minority communities that bear a disproportionate pollution burden—money that the Trump administration was already refusing to spend. It wipes out any spending on greening the federal government.
Furthermore, as MeidasNews editor-in-chief Ron Filipkowski noted Saturday, "rural areas hit hardest by catastrophic storms are the same areas now in danger of losing their hospitals after Trump's Medicaid cuts just passed" as part of the budget reconciliation package.
At least one congressional Republican is ready to take action in the face of increasing extreme weather events. Rep. Marjorie Taylor Greene (R-Ga.)—who once attributed California wildfires to Jewish-controlled space lasers—announced Saturday that she is "introducing a bill that prohibits the injection, release, or dispersion of chemicals or substances into the atmosphere for the express purpose of altering weather, temperature, climate, or sunlight intensity."
"It will be a felony offense," she explained. "We must end the dangerous and deadly practice of weather modification and geoengineering."
Keep ReadingShow Less
National Team Member Becomes at Least 265th Palestinian Footballer Killed by Israel in Gaza
Muhannad al-Lili's killing by Israeli airstrike came as the world mourned the death of Portugal and Liverpool star Diogo Jota and his brother André Silva in a car crash in Spain.
Jul 04, 2025
Muhannad Fadl al-Lili, captain of the Al-Maghazi Services Club and a member of Palestine's national football team, died Thursday from injuries suffered during an Israeli airstrike on his family home in the central Gaza Strip earlier this week, making him the latest of hundreds of Palestinian athletes killed since the start of Israel's genocidal onslaught.
Al-Maghazi Services Club announced al-Lili's death in a Facebook tribute offering condolences to "his family, relatives, friends, and colleagues" and asking "Allah to shower him with his mercy."
The Palestine Football Association (PFA) said that "on Monday, a drone fired a missile at Muhannad's room on the third floor of his house, which led to severe bleeding in the skull."
"During the war of extermination against our people, Muhannad tried to travel outside Gaza to catch up with his wife, who left the strip for Norway on a work mission before the outbreak of the war," the association added. "But he failed to do so, and was deprived of seeing his eldest son, who was born outside the Gaza Strip."
According to the PFA, al-Lili is at least the 265th Palestinian footballer and 585th athlete to be killed by Israeli forces since they launched their assault and siege on Gaza following the October 7, 2023 Hamas-led attack on Israel. Sports journalist Leyla Hamed says 439 Palestinian footballers have been killed by Israel.
Overall, Israel's war—which is the subject of an International Court of Justice (ICJ) genocide case—has left more than 206,000 Palestinians dead, maimed, or missing, and around 2 million more forcibly displaced, starved, or sickened, according to Gaza officials.
The Palestine Chronicle contrasted the worldwide press coverage of the car crash deaths of Portuguese footballer Diogo Jota and his brother André Silva with the media's relative silence following al-Lili's killing.
"Jota's death was a tragedy that touched millions," the outlet wrote. "Yet the death of Muhannad al-Lili... was met with near-total silence from global sports media."
Last week, a group of legal experts including two United Nations special rapporteurs appealed to the Fédération Internationale de Football Association, the world football governing body, demanding that its Governance Audit and Compliance Committee take action against the Israel Football Association for violating FIFA rules by playing matches on occupied Palestinian territory.
In July 2024, the ICJ found that Israel's then-57-year occupation of Palestine—including Gaza—is an illegal form of apartheid that should be ended as soon as possible.
During their invasion and occupation of Gaza, Israeli forces have also used sporting facilities including Yarmouk Stadium for the detention of Palestinian men, women, and children—many of whom have reported torture and other abuse at the hands of their captors.
Keep ReadingShow Less
Most Popular