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A new report says the world's five richest men have more than doubled their wealth since 2020.
According to the non-profit Oxfam, the combined wealth of the elite group that includes Tesla CEO Elon Musk, Amazon founder Jeff Bezos and investor Warren Buffett jumped from 405-billion-dollars to nearly $870 billion in the past three years.
According to Oxfam, "The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population."
Oxfam finds that the same wealthiest people garnered nearly half of all new wealth over the past decade.
In issuing the report, the charity called on governments to "reign in corporate power" to reduce the gap between the ultra-rich and the rest of society.