Australian billionaires increased their wealth by almost $600,000 a day on average over last year, report shows

Australian billionaires collectively increased their wealth by about $10.5bn over the last year, analysis from the anti-poverty organisation Oxfam has found. Photograph: Tatomm/Getty Images/iStockphoto

Australian billionaires increased their wealth by almost $600,000 a day on average over the past year, or more than $10.5bn collectively, new analysis by Oxfam reveals.

The anti-poverty organisation, which released the information in a report on Monday, used its findings to call for an end to negative gearing and capital gains discounts, concessions which are now being examined in a federal inquiry.