Oxfam Warns of Trillionaire Surge as Global Inequality Deepens

Billionaires made $2 trillion last year while it’s austerity for the rest of us

Oxfam’s latest study into contemporary inequality – produced while the ruling class and their minions were rubbing shoulders in Davos – revealed that in 2024, each of the world's 2,640 billionaires increased their wealth by $2 million daily. Meanwhile, since 1990, there has been no improvement in the number of those living on less than $6.85 a day, which still represents 3,600,000,000 people.

Billionaire wealth surges by $2 trillion in 2024, three times faster than the year before, while the number of people living in poverty has barely changed since 1990

Oxfam predicts there will be at least five trillionaires a decade from now. 204 new billionaires were minted in 2024, nearly four every week. Sixty percent of billionaire wealth is now derived from inheritance, monopoly power or crony connections, as Oxfam argues that “extreme billionaire wealth is largely unmerited.”  Richest 1 percent in the Global North extracted $30 million an hour from the Global South through the financial system in 2023. …

Oxfam: 'Dismantle the 'New Aristocracy'

Billionaires' wealth grew three times faster in 2024 than the year before, a top anti-poverty group reported Monday, as some of the world's political and financial elite prepared for an annual gathering in Davos, Switzerland. Oxfam International, in its latest assessment of global inequality timed to the opening of the...

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These five billionaires could hit $1 trillion in wealth by 2035

In recent years, the world has experienced enormous changes in all aspects, including in financial aspects. People are more and more interested in the economy, not only local but also global. This is also the reason why many invest money in cryptocurrencies, stock markets, etc.. The number of billionaires in the world is growing year by year, and it seems that in the next decade the wealth of five people could amount to at least a trillion dolla…

Oxfam: World's first trillionaires to emerge within a decade - Khaama Press

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. In 2024 alone, the world saw 204 new billionaires, bringing the total wealth of billionaires up by $2 trillion, three times faster than the previous year. This unprecedented growth highlig…