Oxfam reports surge in billionaire wealth, warns of rising oligarchy
rfi.fr —
Oxfam reported that billionaire wealth grew three times faster in 2024 than in 2023, with each billionaire gaining an average of €1.941 million daily. The total number of billionaires reached 2,769, with four new billionaires emerging weekly. The report warns of a rising "aristocratic oligarchy" with significant political influence, particularly during Donald Trump's presidency. Oxfam highlighted that much of this wealth comes from inheritance and monopolistic practices. Oxfam called for governments to address this inequality through higher taxes on the wealthy and regulations on corporations. The report suggests that five trillionaires could emerge within the next decade, an increase from previous estimates.