26 people own half of Earth’s wealth: UN Chief

NEW YORK, July 19 (YPA) – The Secretary-General of the United Nations, Antonio Guterres, has announced that 26 people own more than half of the planet’s wealth.

“Over 70% of the world’s population lives in conditions of increasing inequality,” Guterres said during a lecture dedicated to the memory of Nelson Mandela.

He added, “More than 70% of the world’s population lives with increasing disparities in income and wealth, and that 26 people around the world possess more than half of the world’s wealth.”

UN Chief pointed out that developing countries facing COVID-19 pandemic are in a more vulnerable economic situation than before. He called for reducing the debt burden on these countries and establishing special conditions for borrowing.

YPA