Oxfam report finds billionaires' wealth soared in 2024 as global elite prepare for Davos

Oxfam International reported that billionaires’ wealth increased three times faster in 2024 than in 2023, outpacing the previous year’s growth. Ahead of the World Economic Forum in Davos, the group also forecasts the emergence of five trillionaires within a decade, intensifying concerns over global inequality.