THE TEN RICHEST AFRICANS OWN AS MUCH AS THE POOREST HALF OF THE CONTINENT

In January 2014, Oxfam released a widely-cited briefing paper which argued that the richest 85 people in the world owned more than the poorest half of the population in 2013. Following a methodology similar to Oxfam’s, the available data show that the ten richest Africans own more than the bottom half of the continent, a grim illustration of the stark divide between the very-wealthy and the rest.

To reach the total wealth of the bottom 50% requires the total wealth of the 22 richest Indians, compared with the ten richest Africans. In China, the total wealth of the richest 5 individuals is only enough for the bottom 10%, while this would suffice for more than 40% of the poorest Africans.