Story highlights Overall wealth of the richest 1% will outpace that of the other 99% by next year

"The scale of global inequality is quite simply staggering," Oxfam director says

(CNN) Turns out, the rich really are getting richer. And they'll soon own more than the rest of us put together.

So says a new report, which estimates that the richest 1% will have as much wealth as the other 99% combined by next year.

"The richest 1% have seen their share of global wealth increase from 44% in 2009 to 48% in 2014," Oxfam says in a report Monday.

At that rate, the wealthiest will own more than 50% by next year, according to the report.

"Do we really want to live in a world where the 1% own more than the rest of us combined?" asked Winnie Byanyima, executive director of the international aid agency.

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