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Barbara Stocking, Oxfam's chief executive, said a "global new deal" was needed to reverse decades of increasing inequality.
The world's richest 100 people earned enough last year to end extreme poverty for the planet's poorest people four times over, Oxfam said.
An "explosion in extreme wealth" was hindering efforts to tackle poverty, the charity said in a briefing released ahead of next week's World Economic Forum in Davos, Switzerland. Oxfam said the net income last year of the 100 richest people was 240 billion US dollars (£150 billion) in its report.
The briefing, called Releasing The Cost Of Inequality: How Wealth And Income Extremes Hurt Us All, noted that people in "extreme poverty" live on less than 1.25 US dollars (78p) per day. The charity called on world leaders to commit to reducing inequality to levels last seen in 1990.