Speaking at Davos Annual Meeting 2022 during Equitable Responses to Ending the Pandemic on Monday, Oxfam International’s executive director Gabriela Buche said billionaires were arriving at the summit to “celebrate an incredible surge in their fortunes.”
According to a report from CNBC, Buche added, “The pandemic and now the steep increases in food and energy prices have, simply put, been a bonanza for them.”
“Meanwhile, decades of progress on extreme poverty are now in reverse and millions of people are facing impossible rises in the cost of simply staying alive,” Bucher said.
Buche also mentioned that Covid has been one of the most profitable products.
“Billionaires has been, you know, unprecedented during the pandemic. And there’s been several sectors where that has been mostly concentrated. And one is, in fact, the pharma sectors, because Covid has been one of the most profitable products ever. So that’s one point to discuss in our report,” Buche said.
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