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

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,

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

Follow The Hindu’s updates of Day 1 of the World Economic Forum 2025, in Davos, Switzerland, on January 20, 2025

There is increasing disparity in the world today as an "aristocratic oligarchy" is amassing wealth at unforeseen levels, a report published by development organization Oxfam said. Published ahead of the World Economic Forum (WEF) in Davos,

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

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.

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,

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.

Last year marked the second-largest annual increase in billionaire wealth since records started, according to Oxfam.

The wealth of the world’s billionaires skyrocketed by a staggering 2$ trillion (£1.64 trillion) in 2024, a surge three times