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Image: Pacific Press / Getty Images

Last year saw a widening of the global inequality gap and the biggest increase of billionaires in history, according to a report from the anti-poverty charity Oxfam.

Why it matters: Billionaires grew their wealth by $762 billion in 12 months, an increase that Oxfam says could have ended "global extreme poverty" seven times over.

By the numbers:

  • 82% of all wealth created last year went to the top 1%, while the bottom 50% saw no increase at all.
  • A billionaire was created every two days in 2017, bringing the total to 2,043.
  • Nine out of 10 billionaires are men.
  • 42 people own the same wealth as the bottom 3.7 billion.
  • The three richest people in the U.S. own the same wealth as the bottom 50%.

Go deeper

Updated 2 hours ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.

2 hours ago - World

UN assembly condemns Myanmar military coup

Protesters make the three-finger salute as they take part in a flash mob demonstration against the military coup. Photo: AFP via Getty Images

The UN General Assembly on Friday condemned Myanmar's military coup and called for an arms embargo against the country, AP reports.

Why it matters: The rare move demonstrates widespread global opposition to Myanmar's military junta, which overthrew the country's democratically elected government and seized power on Feb. 1.

Pakistan PM will "absolutely not" allow CIA to use bases for Afghanistan operations

Pakistan will "absolutely not" allow the CIA to use bases on its soil for cross-border counterterrorism missions after American forces withdraw from Afghanistan, Prime Minister Imran Khan tells "Axios on HBO" in a wide-ranging interview airing Sunday at 6pm ET.

Why it matters: The quality of counterterrorism and intelligence capabilities in Afghanistan is a critical question facing the Biden administration as U.S. forces move closer to total withdrawal by Sept. 11.