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World's richest men's fortunes double as poverty increases, says Oxfam The combined fortunes of the world's five richest men have more than doubled to $869bn since 2020, while five billion people have been made poorer, according to a report by Oxfam. The report reveals that a billionaire now controls or is the main shareholder of seven out of 10 of the world's largest companies. Oxfam calls for governments to break up monopolies, impose taxes on excess profit and wealth, and promote alternative forms of employee ownership. The report estimates that 148 top corporations made $1.8tn in profits, generating hefty payouts to shareholders while workers faced wage cuts due to inflation. Oxfam's interim Executive Director, Amitabh Behar, states that the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else. The report challenges the concept of "stakeholder capitalism" championed at the World Economic Forum in Davos. The wealth surge of the top five billionaires was driven by gains in the assets of Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Warren Buffett. Meanwhile, nearly 800 million workers saw their wages fail to keep up with inflation, resulting in lost annual income. Only 0.4% of the world's largest corporations have committed to paying workers a living wage, according to the study. #atlantacpa...