a deadly virus

The Covid-19 pandemic exposed a harsh reality: inequality not only causes immense suffering but also leads to loss of life. Every 4 seconds, someone dies as a result of this inequality.

Over the past two years, countless lives have been lost due to preventable circumstances. Many died from infectious diseases because they couldn’t access vaccines in time. Others succumbed to treatable illnesses because they couldn’t afford private healthcare. Hunger claimed lives as people struggled to afford basic necessities. Women lost their lives to gender-based violence.

During this time of immense hardship, the wealthiest individuals saw their fortunes grow, and major corporations recorded record-breaking profits.

Inequality is not a distant or theoretical concept. It leads to tangible, devastating outcomes. It made the pandemic deadlier, prolonged its impact, and deepened the damage. This inequality is embedded in our economic systems and is fracturing our societies.

How Covid-19 Widened Inequality

Unprecedented Growth in Billionaire Wealth

During the Covid-19 pandemic, the wealth of the world’s 2,755 billionaires soared to levels never seen before. Their fortunes have grown more in the past few years than in the combined total of the previous 14 years. This marks the largest annual increase since records began, affecting every corner of the globe.

The surge has been driven by rising stock market values, unchecked growth of private enterprises, increased monopoly power, and widespread privatisation. At the same time, corporate tax rates have fallen, and workers’ rights and wages have continued to erode. These factors have created an environment where, since the outbreak of Covid-19, a new billionaire has emerged roughly every 26 hours.

Inequality was Driving the Covid-19 Pandemic

Inequality continues to weigh heavily on those already struggling the most. It particularly affects people living in poverty, women, girls, and marginalised communities. The Covid-19 pandemic deepened this divide, leading to a sharp rise in global poverty.

While countries in the G20 administered over 80% of vaccines, less than 1% reached low-income nations. This stark disparity in distribution is costing lives and exacerbating inequalities worldwide.

In some regions, the poorest individuals face nearly four times the risk of dying from Covid-19 compared to the wealthiest. This alarming gap underlines how inequality not only fuels the spread of deadly virus’s but also prolongs there impact.