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Pandemic doubled largest fortunes while 99% of incomes fell

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Al-Araby

Billionaires in the Middle East and North Africa saw their wealth increase by 23 percent during the Covid-19 pandemic, while the bottom 90 percent of the region’s population became poorer, a new report released today by the UK-based humanitarian organisation Oxfam revealed. The world’s ten richest men saw their fortunes double during the pandemic, while 99 percent of people saw their incomes shrink. Over 160 million more people have been forced into poverty due to economic woes during the pandemic. “Billionaires have had a terrific pandemic,” Oxfam International’s Executive Director Gabriela B…

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