Study finds richest 1 percent will control half the world's wealth by 2016

Anti-poverty organization Oxfam has projected that the richest 1 percent of citizens will control more than half of the world's wealth by 2016.

The projections come as part of a new study on global inequality, designed to highlight the widening gulf between the world's poorest citiziens and richest citizens. According to Oxfam, the 80 wealthiest people in the world control $1.9 trillion — almost the same amount controlled by the 3.5 billion people on the bottom of the world income scale.

The study also provides several suggestions for decreasing income inequality, including universal free public services by 2020.

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