The development organization Oxfam has said inequality between people around the world continued to grow.
Billionaires in G20 countries saw their wealth rise by $2.2 trillion over the past year, Oxfam said in an analysis released on Thursday ahead of this week's G20 summit. According to the group, that amount would be enough to lift 3.8 billion people out of poverty.
The G20 summit begins on Saturday in Johannesburg. The group brings together the world's major industrialized nations and emerging economies. Oxfam said billionaires in G20 countries increased their combined wealth by 16.5% in a single year, from $13.4 trillion to $15.6 trillion.
The organization estimated the annual cost of ending poverty for the 3.8 billion people who currently live below the World Bank's poverty line of $8.30 per day at $1.65 trillion.
Oxfam called on G20 leaders to push for the creation of an international body to tackle inequality and to advance efforts to tax the super-rich.
Reducing inequality is expected to be a central topic at the summit.
