Richest 85 people have as much money as half the world’s population

A new report from Oxfam International, a British humanitarian group, indicates that the wealthiest 85 people on Earth have as much wealth as half of the global population.

For clarification, on one side of the room you have 85 folks who have a net worth of $1.7 trillion (with a t). On the other side of the room (and this side better have A LOT more space) you have 3.5 billion (with a b) folks who have the same net worth of $1.7 trillion.

Oxfam’s executive director Winnie Byanyima feels that their findings shine a harsh light on the global problem of income inequality. Via the L.A. Times:

“It is staggering that in the 21st century, half of the world’s population own no more than a tiny elite whose numbers could all sit comfortably in a single train carriage. Widening inequality is creating a vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest of us to fight over crumbs from the top table.”

In America, Oxfam states that the richest 1% has grown nearly 150% from 1980 through 2012. That small elite has received 95% of wealth created since 2009, after the financial crisis, while the bottom 90% of Americans have become poorer.