While the poorest half of the world was scraping by on less than $5.50 a day in 2018, the world’s billionaires saw their wealth increase by $900 billion — or $2.5 billion a day.

That’s according to a new report released Monday from Oxfam a day ahead of the start of the World Economic Forum in Davos, Switzerland. The report reveals that the number of billionaires has nearly doubled since the financial crisis, with a new billionaire created every day between 2017 and 2018. On a percentage basis, the world’s wealthiest saw their fortunes rise 12% last year, while the poorest — 3.8 billion people— experienced an 11% drop.

Last week, a separate survey from Wealth X showed the wealth of the world’s high net worth individuals — those with between $1 million and $30 million in assets — grew by just 1.9% to 22.4 million people in 2018. Their combined wealth also grew by 1.8% to $61.3 trillion, below the rate of global economic growth of approximately 3.7% last year.

The fortune of Amazon AMZN, -1.78% Chief Executive Officer Jeff Bezos rose to $112 billion in 2018. Just 1% of that figure is equal to the entire health budget of Ethiopia, with a population of 105 million, says Oxfam.

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Oxfam’s chief complaint is that wealthy individuals and companies are paying the lowest rates of taxes in decades. “For example, the top rate of personal income tax in rich countries fell from 62 percent in 1970 to just 38 percent in 2013. The average rate in poor countries is just 28 percent,” it said.

Oxfam

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In the U.S., Oxfam notes the top rate of personal income tax in the U.S. was 94% in 1945, and as recently as 1980 it was 70%. Presently, it sits at 37%, said Oxfam. In developing countries, the average top rate of personal income tax is even lower, at 28%, and for corporate tax it’s 25%.

The charity highlighted the ever-present gender gap when it comes money — men possess more than 50% of the total wealth than women and control over 86% of the corporations. Women are held back by poor public services that force them into the ill-paid job of caring for sick relatives.

“Oxfam estimates that if all the unpaid care work carried out by women across the globe was done by a single company it would have an annual turnover of $10 trillion – 43 times that of Apple AAPL, -3.17% , the world’s biggest company,” said the survey.

Oxfam says it’s asking global governments to start delivering universal free heath care, education and other public services that in particular help out women and girls, such as easing the unpaid hours women spend on caring for family members. The charity estimates that every day, 10,000 die due to a lack of access to affordable health care.

The world’s high net worth (HNW) individuals — a net worth of between $1 million and $30 million in assets — grew by just 1.9% to 22.4 million people in 2018, according to data released Wednesday by global wealth consultancy Wealth-X.

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