$240 billion amassed by 100 richest people enough to end extreme poverty four times over: Oxfam [View all]

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http://www.rawstory.com/rs/2013/01/19/240-billion-amassed-by-100-richest-people-enough-to-end-extreme-poverty-four-times-over-oxfam/



The charity said the accumulation of wealth and income on an unprecedented scale, often at the expense of secure jobs and decent wages for the poorest, undermined the ability of people who survive on aid or low wages to improve their situation and escape poverty.

Oxfam said the world’s poorest could be lifted out of poverty several times over should the richest 100 billionaires give away the money they made last year.

Without pointing a finger at individuals, the charity argued that the $240bn (£150bn) net income amassed in 2012 by the richest 100 billionaires would be enough to make extreme poverty history four times over.

It is rare for charities to attack the wealthy, who are usually regarded as a source of funding. Bill Gates and Warren Buffett are among a group of 40 US billionaires who have pledged much of their wealth to aid projects, but there is little detail about the level of their annual donations. Their actions have also not been matched by Russian, Middle Eastern or Chinese billionaires.