Oxfam SA finds the country’s richest billionaire owns more than the poorest 70% combined [SOUND]

# South Africa’s single richest billionaire owns more wealth than the poorest 70-percent of the population combined. This is according to a new report by Oxfam South Africa. It found that the richest one-percent of citizens held 54.9-percent of the country’s wealth in 2024, while the bottom half of the population now holds negative wealth. Acting Oxfam SA Executive Director Pooven Moodley told SABC that the country does not have an inequality problem because there isn’t enough wealth, but it’s because of who owns that wealth: