We’ve reached a new era now, we are in the era of the billionaire,” said Jenny Ricks, general secretary of the human rights group Fight Inequality Alliance. “The challeng

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 ...

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

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

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

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.

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.

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

Malawi’s richest 10 percent are in control of about a third of the national income, highlighting persisting inequality gaps, an Oxfam study report has shown. In contrast, the 2024 report launched yesterday also found that the poorest 10 percent hold less than two percent of wealth.