Oxfam Report: Offshore Wealth of Richest 0.1% Exceeds Total Wealth of Poorest Half of Humanity

Summary

Oxfam analysis reveals that the untaxed wealth hidden offshore by the richest 0.1% of the global population exceeds the total wealth of the poorest half of humanity (4.1 billion people). The report, published ahead of the 10th anniversary of the Panama Papers, shows that $3.55 trillion in untaxed wealth is stashed in tax havens, with the super-rich continuing to exploit offshore systems to evade taxes and conceal assets. The findings highlight the urgent need for coordinated international action to tax extreme wealth and end the use of tax havens.