politics / policies
3 hours ago

Australian Billionaires and Global Wealth Disparities: Oxfam's Urgent Call for Tax Reform

Australian Billionaires and Global Wealth Disparities: Oxfam's Urgent Call for Tax Reform
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7 Highlights
  • Billionaire wealth grew by $2 trillion globally in 2024.
  • Top 1% owns 45% of global wealth, highlighting inequality.
  • Oxfam suggests a wealth tax to address income disparity.
  • 47 Australian billionaires saw an 8% wealth increase.
  • Australian billionaires earn A$67,000 per hour on average.
  • 35% of Australian billionaire wealth is inherited.
  • Women contribute $10.8 trillion in unpaid labor yearly.
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