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.

Billionaire wealth grew by $2tn in 2024, three times faster than the previous year, according to Oxfam's latest report on wealth. View on euronews

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.

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

As global elites arrive in Davos for the annual World Economic Forum, the global advocacy group Oxfam reported that billionaires' wealth increased three times faster in 2024 than the previous year, and it warned of an emerging aristocratic oligarchy with enormous political clout,

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

Billionaire wealth surged in 2024, as the world’s richest people increasingly benefited from inheritance and powerful connections, Oxfam said in its annual inequality report.

Oxfam's latest report shows billionaire wealth surged by $2 trillion in 2024, with new billionaires minted daily. Discover how wealth inequality is widening globally.