They’ve ‘outdone even their wildest dreams’: Canadian billionaires saw wealth jump 51% during pandemic

While many Canadians struggled and saw their financial health deteriorate during the pandemic, the rich got richer. A new report by Britain’s Oxfam International found that Canadian billionaires saw their wealth grow by a staggering 51 per cent since the pandemic began. “This accelerated a trend that was already driving wealth inequality in Canada over the past decade,” Oxfam Canada reported. “Canadians are making daily sacrifices on essentials like food and utility bills, while the superrich have outdone even their wildest dreams,” said Lauren Ravon, executive director of Oxfam Canada. In Britain, billionaires have assets of $186.6 billion, compared to the $342 billion owned by the bottom 40 per cent of the U.K. population.
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