Just 62 people own as much wealth as the poorer half of the global population, a new report reveals, as the widening of the gap between the rich and poor accelerates.

As the business elite converge on Davos for the World Economic Forum, an Oxfam report shows wealth is becoming further concentrated, with the number of people owning the same amount as the bottom half of humanity falling from 388 to 62 in five years.

It says a "broken" economic model underpinned by deregulation, privatisation and financial secrecy has seen the wealth of the richest 62 people jump by 44 per cent in five years to $1.76 trillion.

In that time, the wealth of the poorest 3.6 billion people plunged by 41 per cent.