Billionaires' wealth surges in 2024 as poverty levels remain stagnant, Oxfam reports
Billionaires' wealth increased significantly in 2024, growing three times faster than the previous year, according to Oxfam International. The report predicts at least five trillionaires will emerge in the next decade, up from one predicted last year. Despite this wealth surge, the number of people living in poverty has remained largely unchanged since 1990. Oxfam highlighted that billionaire wealth rose by $2 trillion last year, while the poorest continue to struggle, with many living on less than $6.85 a day. The World Economic Forum in Davos is set to host around 3,000 attendees, including business leaders and government officials. Protests for economic equality and calls for taxing the wealthy are expected to accompany the event.