The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.

Within a decade, the world could witness the emergence of its first trillionaire, Oxfam International warns in its latest inequality report. Released during the World Economic Forum in Davos, the report underscores a stark reality: the wealth of the top five billionaires has more than doubled since the pandemic,

Move over billionaires. The first trillionaires are on their way.

A recent report by Oxfam International reveals a shocking truth. During colonial rule, the UK took around $64.82 trillion from India. Most of this wealth went to the richest 10% of people.

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

The development organization Oxfam predicts that the world’s first trillionaires could emerge within the next decade. The report highlights that the wealth of the ten richest billionaires has grown by an average of $100 million per day over the past ten years.

Per the Oxfam report, even during colonialism, a similar pattern was followed by allowing private multinational corporations monopolies with overseas expansion. The UK extracted $64.82 trillion from India over a century of colonialism between 1765 and 1900,

Over the course of colonialism from 1765 to 1900, the United Kingdom (UK) drew an astounding $ 64.82 trillion from India, as per the latest annual report on global inequality by rights group Oxfam International.

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.

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.

Although the sun may be setting on the era of free trade, crypto supporters say a new dawn is rising for digital currencies thanks to US President Donald Trump.