Overview

• Oxfam International's report reveals that billionaire wealth grew three times faster in 2024 compared to 2023, adding $2 trillion to their collective net worth.
• The report projects that five individuals, including Elon Musk and Mark Zuckerberg, could become trillionaires within the next decade, up from a previous estimate of one.
• Global poverty levels remain largely unchanged since 1990, with over 10% of the world's population living on less than $6.85 per day, according to World Bank data cited by Oxfam.
• Outgoing U.S. President Joe Biden and Oxfam have called for reforms, including higher taxes on the ultra-wealthy, breaking up monopolies, and ensuring fair wages for workers.
• The findings coincide with the World Economic Forum in Davos, where discussions include economic inequality, artificial intelligence, and global conflicts, as well as President Donald Trump's return to office.