Oxfam warns of rising oligarchy as global elites gather in Davos
legit.ng —
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 surge in billionaire wealth, with 204 new billionaires emerging last year. The report states that billionaire fortunes increased significantly, with each billionaire gaining an average of $2 million daily. Oxfam claims Trump's election has further boosted this wealth, raising concerns about political influence and inequality. Protests against wealth disparity 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 policies on the global economy.