Billionaires' wealth soared in 2024, a top anti-poverty group said ahead of an annual gathering in Davos, Switzerland of some of the world's political and financial elite.

Billionaire’s wealth has grown faster last year, and now the world can expect at least five trillionaires within a decade, even as the number of people in poverty has barely budged since 1990

Billionaires' wealth grew three times faster in 2024 than the year before, top anti-poverty group Oxfam International reported in its latest assessment of global inequality as some of the world's political and financial elite prepared for the opening of the World Economic Forum,

Group’s report comes as the world’s political and financial elite prepare for an annual gathering in Davos, Switzerland.

Switzerland. Oxfam International, in its latest assessment of global inequality timed to the opening of the World Economic Forum meeting, also predicts at least five trillionaires will crop up ...

Move over billionaires. The first trillionaires are on their way.

In 2024, an average of nearly four new billionaires were coined every week, according to Oxfam. Much of their wealth will be passed down to heirs.

The report was also released as business and political elites gathered in Davos, Switzerland for the annual World Economic Forum summit. According to Oxfam, an average of nearly four new billionaires emerged every week in 2024, and billionaires saw their ...

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

OxFam International’s research adds weight to a warning by outgoing President Joe Biden last week of a “dangerous concentration of power in the hands of very few ultra-wealthy people.”

For in-depth analysis and a deeper perspective, Delano D'Souza welcomes Rebecca Riddell, Senior Policy Lead for Economic and Racial Justice at Oxfam America.

Oxfam International reported that billionaires' wealth increased three times faster in 2024, outpacing the previous year's growth. Ahead of the World Economic Forum in Davos, the group also forecasts the emergence of five trillionaires within a decade,