A new report from Oxfam, released on the eve of the World Economic Forum, revealed that Australia’s richest 1% owned 23% of the country’s total wealth last year, up from 22% the year before, and more than the bottom 70% combined.
Based on data from Credit Suisse, the report also revealed that Australia now has 33 billionaires, up by 8 in the past year alone.
The Oxfam report shows that inequality is worsening.
