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.

Latest assessment by Oxfam International, timed with the opening of the World Economic Forum, predicts that at least five trillionaires will emerge over the next decade. Billionaires' wealth grew three times faster in 2024 compared to the previous year,

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.

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,

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.

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