Oxfam reveals the rich will get richer, with 1% owning the majority of global wealth

By 2016, the world’s richest 1% will own over 50% of the world’s wealth, according a report released by Oxfam International on Monday.

The report revealed that the world’s richest people saw their share of global wealth jump from 2009’s 44%, to 48% in 2014.

Of the remaining 52% of the world's wealth, 46% belongs to the richest fifth of the population. This means that the remaining 80% of the global population must share just 5.5 % of the world's wealth.

Oxfam warned that rising economic inequality would exacerbate world poverty, which although often debated, remains as big a problem.

"In the past 12 months, we have seen world leaders from President Obama to Christine Lagarde talk more about tackling extreme inequality but we are still waiting for many of them to walk the walk," Winnie Byanyima, Oxfam’s executive director said. "It is time our leaders took on the powerful vested interests that stand in the way of a fairer and more prosperous world."