The world's richest 1 per cent will own more than the other 99 per cent by next year, Oxfam has warned.

The charity has highlighted growing inequality ahead of the World Economic Forum in Davos this week.

Growing inequality means the richest 1 per cent in the world will own more than the rest. Credit:Michele Mossop

A research paper suggests the wealthiest 1 per cent have seen their share of global assets rise from 44 per cent in 2009 to 48 per cent last year - with an average worth of $2.92 million each. The figure is on track to exceed 50 per cent this year.

Below the richest fifth, 80 per cent of the world's population own just 5.5 per cent of wealth - an average of $4166 each.