A new report from Oxfam claims the fortunes of Ireland’s billionaires has risen €3.3bn since the start of the Covid-19 pandemic.
The Inequality Virus report also finds that the wealth of the planet’s ten richest men has grown by half a trillion dollars since Covid-19 began sweeping the globe.
The research concludes that although the 1,000 richest people in the world suffered losses due to the economic upheaval, they had recouped those losses within nine months.
But despite this, Oxfam predicts it may take more than ten years before the world’s poorest are able to recover from the economic impacts.
Jim Clarken, Chief Executive of Oxfam Ireland, said a rich elite are riding out the pandemic in safety, while those on the frontline are struggling to pay the bills and put food on the table, often without benefits such as paid sick leave.
“In Ireland, the fallout of the pandemic on
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