Analysis shows local billionaire wealth rose by 8% last year, meaning tycoons such as Gina Rinehart make 1,300 times more than average person’s payWealth of world’s billionaires grew by $2tn in 2024, report findsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralia’s 47 billionaires take home an average of A$67,000 an hour, over 1,300 times more than the average Australian, new Oxfam analysis reveals, as the anti-poverty organisation calls for the major parties to tax the fortunes of the super-rich to tackle inequality.Using data from Forbes’ real-time billionaires list – which categorises billionaires in US dollars – to identify Australian billionaires, the report Takers Not Makers calculated that in 2024 Australian billionaire wealth rose by more than 8% or A$28bn, at a staggering rate of A$3.2m an hour. Continue reading…
Source link : https://www.theguardian.com/business/2025/jan/20/australia-billionaires-forbes-list-wealth-oxfam-tax-super-rich
Author : Cait Kelly
Publish date : 2025-01-20 00:04:00
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Australian billionaires make $67,000 an hour, Oxfam says in call for tax on super-rich
By IntelliNews