Ireland has the fifth largest number of billionaires in the world, relative to its population, Oxfam revealed today at the launch of its annual report on inequality ahead of the World Economic Forum in Davos, Switzerland.
Ireland ranks fifth in the world after Hong Kong, Cyprus, Switzerland and Singapore in terms of relative number of billionaires and has one of the highest levels of wealth inequality in the EU.
The report – entitled Time to Care – highlights how global inequality is out of control with the world’s 2,153 billionaires owning more wealth than the 4.6 billion people who make up 60% of the planet’s population.
Oxfam say Ireland’s disproportionately high number of 17 billionaires – the vast majority of whom are men – shows that the country is mirroring this global trend when it comes to wealth inequality.
Source: www.businessworld.ie