As supply chain issues leave some industries on the brink of collapse, the world’s ten richest men are increasing their fortunes at a rate of $1.6 billion a day.

According to a confederation of charities that focus on alleviating poverty around the globe, Oxfam said elites’ wealth grew more throughout the pandemic more than the last 14 years.

Oxfam’s latest report, Inequality Kills, was released as global business leaders met virtually this week for World Economic Forum (WEF) in Davos, Switzerland.

Oxfam International Executive Director Gabriela Bucher said, “the pandemic has been a billionaire bonanza.”

“When governments did the rescue packages and pumped trillions into the economy and to financial markets in order to support the economy for all, what happened is a lot of it went into the pockets of the billionaires,” Bucher added.

The report observes “unprecedented” levels of global inequality as the divide between “us and them,” the “haves and have not,” becomes more pronounced.