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

At least five people will become trillionaires within the next decade as billionaire wealth surges to “shocking” levels, says charity Oxfam.

Billionaire's wealth has grown faster last year, and now the world can expect at least 5 trillionaires within a decade, even as the number of people in poverty has barely budged since 1990.

Billionaire wealth grew by $2tn in 2024, three times faster than the previous year, according to Oxfam's latest report on wealth. View on euronews

The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

Oxfam's annual inequality report shows the rapid acceleration of wealth accumulation by the world's richest in 2024, as 44 percent of the world continues to live in poverty. FRANCE 24's Business

Behar said the planet's five richest people — Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett — have seen their fortunes increase by 114 percent since 2020, and the prospect of someone amassing $1,000 billion — a trillion — is now very real.

The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.

According to Oxfam International, the wealth of billionaires globally grew three times faster in 2024 compared to the previous year, just as many of

Davos: The UK extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to

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.”