JOHANNESBURG - President Cyril Ramaphosa received the G20 Report on global inequalities on Tuesday.
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Nobel laureate in Economics, Professor Joseph Stiglitz is among six independent experts, who compiled the report.
Ramaphosa set up the task force to compile the G20's first-ever report on global inequality.
The report shows that between 2000 and 2024, the world's top 1% captured 41% of all new wealth.
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In all that time, the majority, 50% of humanity, increased their wealth by just 1%.
To deal with inequality, the panel recommends clamping down on tax avoidance by the wealthy and corporate entities.
The report notes that the vast majority of countries now meet the World Bank's definition of high inequality.
It says the countries with high inequality are more likely to experience democratic decline.
It's calling for a larger International Panel on inequality that would monitor trends and the drivers of inequality.
Report on G20 Task Team on Inequality #G20SouthAfrica https://t.co/CO5FlrYUCE
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) November 4, 2025