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.

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,

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.

The World Economic Forum in Davos, Switzerland, is underway this week — and there are calls for taxing the extremely rich to address global inequality.

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

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

Billionaires' wealth grew three times faster in 2024 than the year before, a top anti-poverty group reported Jan. 20 as some of the world's political and financial

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 wealth surged by $2 trillion in 2024, growing three times faster than the previous year, as global inequality widened, Oxfam reported during Davos. The group warns of a "new aristocracy," with at least five trillionaires expected by 2034.

Critics argue this surge in ultra-wealth worsens inequality, fueling calls for stronger taxes and regulation.