Govts urged to rein in ‘billionaire class’

The combined fortunes of the world’s five richest men have more than doubled to $869 billion since 2020 while five billion people have been made poorer, anti-poverty group Oxfam said.

An Oxfam report, which comes as business elites gather this week for the annual World Economic Forum meeting in Davos, found that a billionaire is now either running, or is the main shareholder of, 7 out of 10 of the world’s biggest companies.

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