Billionaires' wealth soared in 2024, a top anti-poverty group said ahead of an annual gathering in Davos, Switzerland of some of the world's political and financial elite.

Billionaires' wealth grew three times faster in 2024 than the year before, top anti-poverty group Oxfam International reported in its latest assessment of global inequality as some of the world's political and financial elite prepared for the opening of the World Economic Forum,

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.

OxFam International’s research adds weight to a warning by outgoing President Joe Biden last week of a “dangerous concentration of power in the hands of very few ultra-wealthy people.”

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

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.

In 2024, an average of nearly four new billionaires were coined every week, according to Oxfam. Much of their wealth will be passed down to heirs.

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

The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.

Switzerland. Oxfam International, in its latest assessment of global inequality timed to the opening of the World Economic Forum meeting, also predicts at least five trillionaires will crop up ...

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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