The 62 richest people in the world now have a fortune that is as large as the poorest half of the people in the world own put together.
The very rich are namely becoming richer and the poor poorer, according to a report by Oxfam.
While the 62 wealthiest persons' assets in total have increased by 44 percent since 2010, the total assets among the approximately 3.5 billion people who have the least, in the same period dropped by 41 percent.
Meanwhile, the richest percent of the world's population now has wealth that exceeds the remaining 99 percent's total assets.
Significantly, the wealth gap is widening faster than anyone anticipated, with the 1 percent overtaking the rest one year earlier than Oxfam had predicted only a year ago.
The report was published prior to the annual meeting of the World Economic Forum in Davos, Switzerland.
Almost half of the richest people in the world come from the United States, 17 percent are from Europe, while the rest are from countries such as China, Brazil, Mexico, Japan and Saudi Arabia.
It requires cash and assets - such as real estate where the loan is paid off - of at least $68,800 to be among the ten percent of the globe's most wealthy.
To be among the richest percent, one must have a wealth that exceeds $760,000, writes the BBC.
According to Forbes, the richest man in the world is Bill Gates, who has a Net Worth of $79.2 B.
The fortune of the world's 500 richest billionaires, amounts to a staggering $7.05 trillion, according to Forbes.
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