The figures come from its report Inequality: unfair poverty and undeserved wealth published on Monday for the World Economic Forum annual meeting in Davos.

Italian billionaires, consisting of 71 individuals, are worth a total value of 272.5 billion euros.

The survey, which highlighted the growing gap between wealth and poverty worldwide, expressed “great concern” for absolute poverty in Italy.

In 2023, absolute poverty remained stable compared to the previous year but saw over 2.2 million households - for a total of 5.7 million people - live in a situation of absolute poverty.

Overall, 5 per cent of the wealthiest families possessed 47.7 per cent of the national wealth, it said.

ANSA