Oxfam warns of growing wealth gap as elites gather in Davos

Oxfam has warned of a growing "aristocratic oligarchy" benefiting from Donald Trump's presidency, as global elites gather in Davos. The charity's report highlights a $2 trillion increase in billionaire wealth, totaling $15 trillion, since Trump's election. The report notes that 204 new billionaires emerged last year, with their wealth growing three times faster than in 2023. Oxfam claims Trump's policies will further increase inequality, raising concerns about the influence of the wealthy on democracy. Protests against wealth inequality occurred in Davos, with demonstrators calling for higher taxes on the rich. Discussions at the World Economic Forum will focus on the implications of Trump's presidency for global economics and rising inequality.