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[[The world’s billionaires have increased their wealth by trillions of dollars since the beginning of the coronavirus pandemic – while the poorest countries are struggling with soaring commodity prices and rising debts. These are the findings of a newly released analysis by the charity Oxfam, as Henry Ridgwell reports from London.]]
Content TypePackage
LanguageEnglish
Transcript/Scriptlobal Inequality-Davos Billionaires (TV)
HEADLINE: Pandemic Creates New Billionaires as Global Inequality Rises
TEASER: Oxfam says wealth of world’s billionaires has risen by $3.78 trillion since 2020
PUBLISHED AT: Tuesday, 05/24/2022
BYLINE: Henry Ridgwell
CONTRIBUTOR:
DATELINE: London
VIDEOGRAPHER: Henry Ridgwell
VIDEO EDITOR: Henry Ridgwell
PRODUCER: Barry Unger
SCRIPT EDITORS: BR, MAS SR
VIDEO SOURCE (S): APTN, AFP, Reuters, Skype
PLATFORMS (mark with X): WEB _X_ TV _X_ RADIO __
TRT: 2:54
VID APPROVED BY: BR
TYPE: VPKGN
EDITOR NOTES: A web version has been published))
((INTRO)) [[The world’s billionaires have increased their wealth by trillions of dollars since the beginning of the coronavirus pandemic – while the poorest countries are struggling with soaring commodity prices and rising debts. These are the findings of a newly released analysis by the charity Oxfam, as Henry Ridgwell reports from London.]]
((NARRATOR))
As the global business elite gather in the Swiss mountain resort of Davos for the World Economic Forum, Oxfam says they have reason to celebrate: an analysis by the charity shows the wealth of the world’s 2,668 billionaires has risen by 3.78 trillion dollars since 2020.
((Max Lawson, Head of Inequality Policy at Oxfam International))
((cf. Skype logo))
“Firstly, and primarily because of the trillions of dollars that rich countries poured into the economy in response to COVID-19. So that was the first thing. And that drove up asset prices. And now we’re seeing this really sharp increase in addition in the fortunes of food and energy billionaires as you see the profits in those sectors soar because of prices rising.”
((NARRATOR))
According to Oxfam, 573 new billionaires have been created since 2020. And the world’s ten richest men now own more wealth than the poorest 40 percent of humanity, or 3.1 billion people.
As the rich have got richer, the past two years have seen the poor getting poorer: with decades of progress against poverty now at risk.
((Max Lawson, Head of Inequality Policy at Oxfam International))
((cf. Skype logo))
“A crisis of inequality, a crisis of climate-induced hunger all over the world. And then on top of that the food price increases and the problems of COVID-19. You put that together and you have more than a perfect storm.”
((NARRATOR))
The World Food Program warns 49 million people are at immediate risk of famine in 43 countries.
((David Beasley, UN World Food Program Executive Director)) ((AP))
“Our needs right now are (the) extra $68 billion that we need. We are only asking for one to two days’ worth of their net worth increases. Is that too much to ask to stabilize the world against famine, destabilization and mass migrations?”
((NARRATOR)
The World Food Program says Ukraine supplies enough grain to feed 400 million people – but its ports are blockaded by Russia.
((David Beasley, UN World Food Program Executive Director)) ((AP))
“If we don't get those ports open, you will be talking about a food pricing problem over the next 10 to 12 months. But next year, it's going to be a food availability problem and that is going to be hell on earth.”
((NARRATOR))
Oxfam says governments do have the power to tackle the growing inequality.
((Max Lawson, Head of Inequality Policy at Oxfam International))
((cf. Skype logo))
“This is our money. It’s driven up the fortunes of these companies. Let’s claw it back, let’s have a series of taxes – one-off solidarity taxes, windfall taxes, wealth taxes – and bring the world back to balance.”
((NARRATOR))
Some European countries have imposed windfall taxes on energy firms. Others argue such taxes would deter investment at a critical time – as Western nations try to wean themselves off Russian energy imports.
((Henry Ridgwell, for VOA News, London))
NewsML Media TopicsArts, Culture, Entertainment and Media
NetworkVOA
Location (dateline)London
Embargo DateMay 24, 2022 16:32 EDT
Byline((Henry Ridgwell, for VOA News, London))
Brand / Language ServiceVoice of America - English
