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.

Oxfam’s latest inequality report, unveiled on the eve of the World Economic Forum in Davos, projects that five billionaires, led by Elon Musk, are set to surpass $1 trillion in wealth within a decade.

The world will soon have five trillionaires as the wealth growth rate of its richest people rises faster than earlier estimates, according to a recent forecast.

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 latest report shows billionaire wealth surged by $2 trillion in 2024, with new billionaires minted daily. Discover how wealth inequality is widening globally.

The world will soon have five trillionaires. New research shows this will happen within a decade. Who will they be?

2024 was a year of unparalleled humanitarian crises. At top of mind are the conflicts, protracted crises, and severe weather events that are becoming more and more frequent. As our president and CEO Abby Maxman reflected in our end of year webinar, “ [Oxfam] works with our head, hearts, and hands, and the heart hurts a lot right now.”

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

As global elites arrive in Davos for the annual World Economic Forum, the global advocacy group Oxfam reported that billionaires' wealth increased three times faster in 2024 than the previous year, and it warned of an emerging aristocratic oligarchy with enormous political clout,

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.

Elon Musk, Jeff Bezos, and three others are projected to become trillionaires over the next decade, further deepening global inequality as poverty levels remain stagnant.