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Oxfam: Richest 1% to Own Half the World's Wealth by 2016

The richest 1 percent of people in the world will have a majority of the wealth on the planet next year, according to development nonprofit Oxfam. The most-affluent’s share of global wealth climbed to 48 percent in 2014, compared with 44 percent in 2009, and will likely pass 50 percent in 2016. The report was released Monday ahead of the annual World Economic Forum meeting this week in Davos, Switzerland. Oxfam warned that the '"explosion in inequality"' is holding...

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