The wealth of Ireland's nine billionaires has increased by €15.55 billion since the start of the Covid-19 pandemic, according to a new report by Oxfam.
The 55% increase brings the asset pile of the country’s richest individuals to €51 billion. However, the charity also points out that the most recent figures show 691,587 people in Ireland are experiencing deprivation and 204,710 of these are children.
Globally the charity says the wealth of the world’s billionaires rose more in the first two years of the Covid-19 pandemic than it did the previous 23 years combined.
The growth is such that the total wealth of billionaires all over the world is now equivalent to 13.9% of global GDP, up from 4.4% in 2000.