Oxfam warns of rising oligarchy as global elites gather in Davos

A new report from Oxfam warns of an "aristocratic oligarchy" gaining power as global elites gather in Davos for the World Economic Forum. The report highlights the growing wealth of billionaires, which increased by $2 trillion last year. Oxfam's findings indicate that the election of Donald Trump has further boosted billionaire fortunes, with 204 new billionaires emerging in 2024. The report suggests that Trump's policies may increase economic inequality. Protests against the wealthy elite occurred in Davos, with demonstrators calling for higher taxes on the rich. Discussions at the forum are expected to focus on the implications of Trump's presidency for global economics and rising inequality.