World's Richest Men Double Wealth to $870 Billion, First Trillionaire Predicted Within Decade

Oxfam report warns of widening wealth gap, calls for measures including wealth tax and breaking up monopolies.

The world's richest men, including Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Warren Buffett, have doubled their collective wealth to $870 billion since 2020, according to a report by Oxfam.
Oxfam's report suggests that the world could see its first trillionaire within the next decade, with Elon Musk being a potential candidate.
The wealth of the world's billionaires has grown at three times the rate of inflation, while the wages of nearly 800 million workers haven't kept up with inflation in the last two years.
Oxfam estimates that it could take 229 years to eradicate poverty, with nearly five billion people having been made poorer since the pandemic.
Oxfam is calling for measures to reduce the widening wealth disparity, including investing in public services, taxing the wealthiest people and largest corporations, and breaking up monopolies.