Oxfam: Eight Men Own Half The World's Wealth

Reuters: World's eight richest as wealthy as half humanity, Oxfam tells Davos

Just eight individuals, all men, own as much wealth as the poorest half of the world's population, Oxfam said on Monday in a report calling for action to curtail rewards for those at the top.

As decision makers and many of the super-rich gather for this week's World Economic Forum (WEF) annual meeting in Davos, the charity's report suggests the wealth gap is wider than ever, with new data for China and India indicating that the poorest half of the world owns less than previously estimated.

Oxfam, which described the gap as "obscene", said if the new data had been available before, it would have shown that in 2016 nine people owned the same as the 3.6 billion who make up the poorest half of humanity, rather than 62 estimated at the time.

In 2010, by comparison, it took the combined assets of the 43 richest people to equal the wealth of the poorest 50 percent, according to the latest calculations.

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More News On Oxfam's Report That Eight Men Own Half The World's Wealth

Just 8 people now have the same wealth as the poorest 3.6 billion -- Oxfam
OXFAM says 8 men as rich as half the world -- AP
Eight men own half the world's wealth: Oxfam -- AFP
World's eight richest people have same wealth as poorest 50% -- The Guardian
Eight billionaires own same as poorest half of the world - Oxfam -- SKY News
Eight billionaires 'as rich as world's poorest half’ -- BBC

Terrorism Means Big Money For The Defense Industry

French police with protective shields walk in line near the Bataclan concert hall following fatal shootings in Paris, France, November 14, 2015. REUTERS/Christian Hartmann

Sydney Morning Herald: Paris Attacks: War on Islamic State brings $US50 billion defence boost

Europe's defence industry is set to reap a $US50 billion ($69 billion) windfall as the terror attacks on Paris prompt governments to ramp up spending on military capabilities spanning cyber security to fighter jets, armoured vehicles and drones in an effort to defeat Islamic State.

France, where Dassault Aviation's Rafale fighter jet is made, has halted plans to cut almost 10,000 military personnel, while Germany will spend an extra €8 billion ($11.7 billion) on defence and Britain has earmarked a further £12 billion ($24.9 billion), benefiting companies including BAE Systems. Italy said Tuesday it would devote €1 billion more to security, after the draft budget called for €2 billion of reductions.

WNU Editor: So .... the Paris attackers spend about $7,500 to finance their terror attack .... Paris Terror Attacks: Militants Responsible May Have Spent Just $7,500 (IBTimes), but it is the defense industry that stands to bring in $50 billion. Sighhh .... I am definitely in the wrong business.