Oxfam report predicts five billionaires could reach $1 trillion in wealth by 2035

Oxfam's new report reveals that five billionaires, including Elon Musk and Jeff Bezos, may exceed $1 trillion in wealth within the next decade. This marks a significant increase in wealth concentration amid rising global inequality. In 2024, billionaires' combined wealth grew by $2.1 trillion, reaching $15 trillion globally. The report highlights that over one-third of billionaire wealth now comes from inheritance, raising concerns about the impact of inherited wealth on economic disparity. Oxfam calls for urgent policy reforms to address wealth inequality, including equitable taxation on the ultra-rich. The report emphasizes the growing influence of billionaires in politics and the need for structural changes to promote economic justice.