Oxfam report reveals Australia's richest make $1.5 million an hour

While Australians are facing a cost of living crisis, billionaires have been breaking wealth records.

$100 Australian dollar notes, pictured in Brisbane, Tuesday, Aug. 20, 2013. (AAP Image/Dan Peled) NO ARCHIVING Source: AAP

Australia's billionaires have been breaking wealth records.

Oxfam's new report, "Inequality Inc.", reveals the wealth of Australia's 47 billionaires has doubled to over $250 billion in the last two years.

This represents more wealth in the hands of 47 people than around 7.7 million Australians.