{"id":273145,"date":"2025-11-05T14:13:18","date_gmt":"2025-11-05T14:13:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/273145\/"},"modified":"2025-11-05T14:13:18","modified_gmt":"2025-11-05T14:13:18","slug":"top-1-became-really-wealthy-since-2000-g20-report-dw-11-04-2025","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/273145\/","title":{"rendered":"Top 1% became really wealthy since 2000 \u2014 G20 report \u2013 DW \u2013 11\/04\/2025"},"content":{"rendered":"

The wealth divide between the super-rich and the poor has grown exponentially\u00a0over the last decades in India<\/a>,\u00a0with the top 1% having grown their share of wealth by 62% between 2000 and 2023, according to a G20<\/a> taskforce\u00a0report published Tuesday.<\/p>\n

The committee’s report<\/a>, commissioned as part of South Africa’s G20 presidency, found that the richest 1% of the global population captured 41% of new wealth since the year 2000.<\/p>\n

By contrast, the\u00a0bottom 50% of humanity have increased their wealth by just 1%, the report said, using data from the World Inequality Lab.<\/p>\n

In other words, the top 1% increased their average wealth by 2,655 times as much as the bottom 50%, the report said.<\/p>\n

The faces of economic inequality in India<\/p>\n

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video<\/a><\/p>\n

The taskforce recommended that a new panel on inequality should be modelled after the Intergovernmental Panel on Climate Change (IPCC).<\/p>\n

It would be responsible for monitoring the causes and impacts of inequality, and providing insights to governments and policymakers.<\/p>\n

Inequality undermines democracy and corrodes politics, study says<\/p>\n

Authors of the report warned that countries with high inequality are likely to experience democratic decline.<\/p>\n

“It isn’t just unfair and undermining societal cohesion \u2013 it’s a problem for our economy and our politics too,” said Joseph Stiglitz, a Nobel Prize-winning economist who is famous for his work on global inequality.<\/p>\n

Stiglitz headed\u00a0the “Extraordinary Committee of Independent Experts on Global Inequality”\u00a0commissioned by South African President Cyril Ramaphosa.<\/p>\n

Ramaphosa holds the presidency of the\u00a0G20 bloc until November 2025<\/a>, when it is due to pass the baton on to the US<\/a>.<\/p>\n

What else did the report say?<\/p>\n

The authors cited a “perfect storm” of global shocks like COVID-19<\/a>, the war in Ukraine<\/a> and trade disputes, for worsening poverty and inequality.<\/p>\n

They noted that one in four people in the world regularly skip meals while\u00a0billionaire wealth has hit the highest level in history.<\/p>\n

Since 2020,\u00a0global poverty reduction has slowed almost to a halt and reversed in some regions, and\u00a02.3 billion people face moderate or severe food insecurity, up by 335 million since 2019.<\/p>\n

Edited by: Rana Taha\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The wealth divide between the super-rich and the poor has grown exponentially\u00a0over the last decades in India,\u00a0with the…\n","protected":false},"author":2,"featured_media":273146,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-273145","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/273145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=273145"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/273145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/273146"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=273145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=273145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=273145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}