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Al Jazeera
Al Jazeera
Business

Five richest men doubled fortunes after 2020, Oxfam says as Davos opens

The World Economic Forum was launched by the German engineer and economist Klaus Schwab in the early 1970s to champion 'stakeholder capitalism' [Denis Balibouse/Reuters]

The world’s richest five men have more than doubled their fortunes since 2020, the charity Oxfam has said, sounding the alarm about unchecked corporate power as business elites hold their high-profile annual gathering in Davos, Switzerland.

The five men are worth a combined $869bn after growing their fortunes at a rate of $14m per hour during the past four years, Oxfam said in its report “Inequality Inc.”, released on Monday.

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