■ GATES, ZUCKERBERG AND 6 OTHERS OWN AS MUCH AS 3.6 BILLION PEOPLE COMBINED

Anti-poverty activists Oxfam names individuals who have mostly made their fortune in technology and have pledged to give most of their wealth to charity

Just eight men own as much wealth as 3.6 billion people, a gap that the anti-poverty organization Oxfam described as “obscene.” In an analysis it released at the start of the World Economic Forum’s annual meeting, Oxfam said it was high time that the world’s leaders did something to address inequality. “One in 10 people survive on less than US$2 a day,” said Winnie Byanyima, executive director of Oxfam International, who will be attending the meeting in Davos. The eight include Bill Gates (whose fortune is estimated at US$75 billion) and Facebook founder Mark Zuckerberg ($44.6 billion).

The gap between the super-rich and the poorest half of the global population is starker than previously thought, with just eight men, from Bill Gates to Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an analysis by Oxfam released Monday.

Presenting its findings on the dawn of the annual gathering of the global political and business elites in the Swiss ski resort of Davos, anti-poverty organization Oxfam says the gap between the very rich and poor is far greater than just a year ago. It’s urging leaders to do more than pay lip-service to the problem.

If not, it warns, public anger against this kind of inequality will continue to grow and lead to more seismic political changes akin to last year’s election of Donald Trump as US president and Britain’s vote to leave the European Union.

“It is obscene for so much wealth to be held in the hands of so few when one in 10 people survive on less than $2 a day,” said Winnie Byanyima, executive director of Oxfam International, who will be attending the meeting in Davos. “Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.”

Oxfam outlined measures that it hopes will be enacted to help reduce the inequality.

They include higher taxes on wealth and income to ensure a more level playing field and to fund investments in public services and jobs, greater cooperation among governments on ensuring workers are paid decently and the rich don’t dodge their taxes. And business leaders should commit to paying their fair share of taxes and a living wage to employees.

Max Lawson, Oxfam’s policy adviser, urged billionaires to “do the right thing,” and to do “what Bill Gates has called on them to do, which is pay their taxes.”

The ability of the rich to avoid paying their fair share of taxes was vividly exposed last year in the socalled “Panama Papers,” a leaked trove of data that revealed details on offshore accounts that helped individuals shelter their wealth.

“We have a situation where billionaires are paying less tax often than their cleaner or their secretary,” Lawson told The Associated Press. “That’s crazy.”

It’s because of this kind of inequality that trust in institutions has fallen sharply since the global financial crisis of 2008, according to Edelman, one of the world’s biggest marketing firms.

In its own pre-Davos survey of more than 33,000 people across 28 markets, Edelman found the largest-ever drop in trust across government, business, media and even non-governmental organizations. CEO credibility is at an all-time low and government leaders are the least trusted group, according to the survey.

The firm’s 2017 Trust Barometer found that 53 percent of respondents believe the current system has failed them in that it is unfair and offers few hopes for the future, with only 15 percent believing it is working. That belief was evident for both the general population and those with college education.

“The implications of the global trust crisis are deep and wide-ranging,” said Richard Edelman, the firm’s president and CEO. “It began with the Great Recession of 2008, but like the second and third waves of a tsunami, globalization and technological change have further weakened people’s trust in global institutions. The consequence is virulent populism and nationalism as the mass population has taken control away from the elites.”

Edelman said business may be best-placed to help improve trust. Companies need to be transparent and honest with their employees about the changes taking place in the work-place, improve skills and pay fairly, he said.

The online survey was conducted between Oct. 13 and Nov. 16, 2016.