Latin America: sharing philanthropy, not hoarding wealth

Florencia Roitstein

Buenos Aires, Argentina

Latin America remains the most unequal region in the world. In 2014, the richest 10 per cent kept 71 per cent of the region’s wealth. If this trend continues, according to Oxfam’s estimates, by 2023 the richest 1 per cent will have accumulated more wealth than the remaining 99 per cent.

From 2002 to 2015, the fortunes of Latin America’s billionaires grew by an average of 21 per cent per year - an increase that Oxfam estimates at six times greater than the growth of the whole region’s GDP.

 
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