Billionaire wealth surged last year, with the world's richest individuals adding $2 trillion to their pockets in 2024, according to a new report released Monday.

Billionaires' wealth grew three times faster in 2024 than the year before, top anti-poverty group Oxfam International reported in its latest assessment of global inequality as some of the world's political and financial elite prepared for the opening of the World Economic Forum,

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.

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

Billionaire's wealth has grown faster last year, and now the world can expect at least 5 trillionaires within a decade, even as the number of people in poverty has barely budged since 1990.

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.

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

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 in Davos, Switzerland, is underway this week — and there ... That's also a solution put forth in the annual Oxfam report released at the start of Davos, highlighting global inequality. This year Oxfam's focus is: People who ...

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

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

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