Move over billionaires. The first trillionaires are on their way.
Billionaire wealth surged in 2024, says Oxfam
The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.
The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.
Currently the richest man in the world, Elon Musk, with earnings of 430 billion dollars, could become a trillionaire in a few years.
But nothing all that golden is minting these new wealthy individuals.“Most billionaire wealth is taken, not earned, 60% comes from either inheritance, cronyism and corruption or
At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.
The world could soon see its first trillionaires, with five individuals projected to reach the milestone within the next decade if current trends persist, according to Oxfam's annual inequality report released Sunday reported CNN Business.
Oxfam report said billionaire wealth grew by $2 trillion last year, or roughly $5.7 billion a day, three-times faster than in 2023.
Behar said the planet's five richest people — Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett — have seen their fortunes increase by 114 percent since 2020, and the prospect of someone amassing $1,000 billion — a trillion — is now very real.
A leading NGO warned Monday of an emerging "aristocratic oligarchy" with massive political clout and primed to profit from Donald Trump's presidency, as global elites descend on Davos for their annual confab.
Donald Trump was sworn in Monday as the 47th president of the United States with some of the richest people on the planet standing close behind him on the inaugural platform—a symbol of what observers described as the nation's slide toward oligarchy.