Summit leaders urged to tackle G20 ‘Billionaire Wealth Surge’

G20 leaders face urgent calls to address an 'inequality emergency' ahead of the Johannesburg summit, as Oxfam reports that billionaires in G20 countries gained $2.2 trillion in wealth over the past year—enough to lift 3.8 billion people above the global poverty line. South Africa's G20 presidency commissioned a landmark analysis led by Nobel laureate Joseph Stiglitz, showing the richest 1% captured 41 cents of every new dollar since 2000 while the bottom half received just one cent, fueling economic hardship and political division. The experts recommend creating an International Panel on Inequality, with President Cyril Ramaphosa's support and Oxfam urging recommitment to taxing the super-rich to prevent debt distress in low-income nations and promote global stability.