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

Billionaire's wealth has grown faster last year, and now the world can expect at least 5 trillionaires within a decade, even as the number of people in poverty has barely budged since 1990.

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.

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

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.”

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.

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.