A new billionaire has been minted nearly every day during the pandemic, recent analysis shows

A new billionaire was minted about every 30 hours, on average, so far during the pandemic, according to a recent analysis.

Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668, according to an analysis released by Oxfam on Sunday. That means a new billionaire was minted about every 30 hours, on average, so far during the pandemic,The report, which draws on data compiled by Forbes, looks at the rise of inequality over the past two years.

At the same time, COVID-19, growing inequality and rising food prices could push as many as 263 million people into extreme poverty this year, reversing decades of progress, Oxfam said in a report released last month. Meanwhile, the net worth of their peers in the oil, gas and coal sectors jumped by $53 billion, or 24%, since 2020, after adjusting for inflation.

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