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.

The World Economic Forum in Davos, Switzerland, is underway this week — and there are calls for taxing the extremely rich to address global inequality.

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

The charity reported that the wealth of the world's billionaires grew from $13 trillion to $15 trillion in 2024, a rate that is three times faster than in 2023.

Within a decade, the world could witness the emergence of its first trillionaire, Oxfam International warns in its latest inequality report. Released during the World Economic Forum in Davos, the report underscores a stark reality: the wealth of the top five billionaires has more than doubled since the pandemic,

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.

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

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

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

The wealth of the world’s billionaires skyrocketed by a staggering 2$ trillion (£1.64 trillion) in 2024, a surge three times

Put JPMorgan Chase CEO Jamie Dimon in the camp that's just fine with President Trump's potential tariffs. Speaking from the World Economic Forum in Davos, Switzerland, Dimon had this to say to CNBC's Andrew Ross Sorkin: "If it's a little inflationary,