Oxfam reports billionaires' wealth surged by $2 trillion in 2024 as new billionaires emerge weekly

Oxfam International reports that billionaires' wealth grew significantly in 2024, increasing by $2 trillion to a total of $15 trillion. The number of billionaires rose to 2,769, with four new billionaires created each week. The report highlights that three-fifths of billionaire wealth comes from inheritance or monopolistic practices. Oxfam predicts the emergence of at least five trillionaires in the next decade, a notable increase from previous forecasts. As the World Economic Forum begins in Davos, Oxfam emphasizes the growing inequality, stating that the wealth of the richest 10 billionaires increased by $100 million daily. The report calls for government action to address wealth disparity and regulate corporate practices.