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 group 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 number of billionaires increased to 2,769. The World Economic Forum in Davos will focus on economic growth and artificial intelligence, amid ongoing global conflicts and rising concerns about inequality. Protests demanding economic equality and higher taxes on the wealthy have also occurred around the event.