Billionaire wealth rises by $2 trillion in 2024, Oxfam report shows

The wealth of the world's billionaires increased by $2 trillion in 2024, three times faster than in 2023, according to Oxfam. This growth amounts to $5.7 billion per day, with the total billionaire wealth rising to $15 trillion. Oxfam's report predicts that the world could have five trillionaires within a decade, a significant change from last year's estimate of one. The number of billionaires globally rose by 204 to 2,769, with rising stock and property values driving the increase. Despite this wealth growth, nearly 3.6 billion people live below the World Bank's poverty line. Oxfam highlights that reducing inequality could accelerate progress in alleviating extreme poverty.