World's 10 richest will take 414 years to spend their combined wealth, finds study

The Oxfam report claimed that the world's 10 richest people own six times as much wealth as the bottom 40 per cent (3.1 billion people).

The report said that it would take the 10 billionaires 414 years to spend their combined wealth at a rate of a million dollars each per day. (Photo: Reuters)

It also said that the wealthiest 1% of the world emits more than twice as much planet-warming carbon dioxide as the bottom 50%.

According to World Bank estimates, if unchecked, climate change could push up to 132 million people into extreme poverty by 2030. ((Representational Photo: WWF)

The report said that a new billionaire has been created every 26 hours since the coronavirus pandemic began, while over 160 million people are estimated to have been pushed into poverty during the health crisis. (Representational Photo: Reuters)

The report revealed that the coronavirus pandemic has set back global progress towards gender equality and that it would take nearly 136 years for women to be on an equal footing with men - up from 99 years pre-pandemic. (Representational Photo: WHO)

The study showed that inequality between nations is expected to rise for the first time in a generation, and is also growing within countries.

"Inequality is contributing to the death of at least 21,300 people each day - one person every four seconds," according to Oxfam's report. (Representational Photo: Reuters)

An estimated 5.6 million people in poor countries die each year due to lack of access to healthcare, while hunger kills more than 2.1 million annually, the report stated. (Representational Photo: Reuters)

The report said that just over 7% of people in low-income countries have received a Covid-19 vaccine dose compared with more than 75% in high-income countries. (Representational Photo: Reuters)

The proportion of people with Covid-19 who die from the illness in developing countries has been estimated at roughly double that of rich countries. (Representational Photo: Reuters)