World's 85 richest people have as much as poorest 3.5 billion: Oxfam warns Davos of ‘pernicious impact’ of the widening wealth gap......Oxfam calculated that almost half the world’s wealth – $110trn – is owned by just 1 per cent of its population......85 richest people own as much as bottom half of population, report says (VIDEO)

The 85 richest people on Earth have the same amount of wealth as the bottom half of the population, according to a new report that highlights growing income inequality as political and business leaders gather for the annual World Economic Forum in Davos, Switzerland.

Those wealthy individuals are a small part of the richest 1% of the population, which combined owns about 46% of global wealth, according to the report from British humanitarian group Oxfam International.

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The study found the richest 1% had $110 trillion in wealth -- 65 times the total wealth of the bottom half of the population.

That bottom half of the population owned about $1.7 trillion, or about 0.7% of the world's wealth. That's the same amount as owned by the 85 richest people, the report said.

The findings undermine democracy and make it more difficult to fight poverty, the report said. more