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 many low- and middle-income countries are spending nearly half their budgets on debt repayments, while life expectancy in Africa lags behind Europe. The World Economic Forum in Davos is set to begin, with around 3,000 attendees expected. Discussions will likely focus on economic growth and artificial intelligence, amid ongoing concerns about global conflicts and rising inequality.