World's eight richest men own as much as 50% of poor

Oxfam report says inequality gap is 'greater than had been feared'

NEW YORK, NY - JUNE 03:Warren Buffett (L) and Bill Gates attend the Forbes' 2015 Philanthropy Summit Awards Dinner on June 3, 2015 in New York City.(Photo by Dimitrios Kambouris/Getty Images)
Warren Buffett and Bill Gates at a Forbes' Philanthropy Summit Awards Dinner in New York City
(Image credit: 2015 Getty Images)

Eight men own as much wealth as the poorest half of the world's population, according to Oxfam.

In a report last year, the charity said the world's 62 richest billionaires were as wealthy as half of the world's population. However, its latest study says the gap is "far greater than had been feared", with new data showing that the 3.6 billion people who make up the poorest half of the world, particularly in India and China, have less wealth than previously thought.

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