Wealth inequality has grown to the stage where 1% people control world's wealth, or 62 of the world’s richest people own as much as the poorest half of humanity combined, according to the report "An Economy for the 1%".

The research, conducted by the charity Oxfam, says the gap between the global richest and the global poorest has widened in just the last 12 months. In 2011, 388 people had the same wealth as the poorest half of humanity. In 2011 this fell to 177. The number has continued to fall each year to 80 in 2014 and 62 in 2015.

The wealth of the poorest half of the world’s population — 3.6 billion people — has fallen by 41 per cent, or a trillion U.S. dollars, since 2010. While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion U.S. dollars to 1.76 trillion U.S. dollars.

On our planet, one in every nine people goes to bed hungry each night. Oxfam GB chief executive Mark Goldring said, “It is simply unacceptable that the poorest half of the world population owns no more than a small group of the global super-rich.” Therefore, a crackdown on global tax havens was a necessary step towards ending the rampant global inequality, he said.