Wealth accumulation accelerates as nearly four new billionaires emerge each week in 2024
cnbc.com —
In 2024, nearly four new billionaires emerged each week, raising the total to 2,769, according to Oxfam. Their combined wealth increased to $15 trillion, marking the second-largest annual rise since Oxfam began tracking billionaire wealth. Oxfam's report highlights that 36% of billionaire wealth is inherited. A UBS report estimates that heirs of baby boomer billionaires could inherit $6.3 trillion over the next 15 years, increasing the number of multigenerational billionaires. In response to growing wealth inequality, over 370 billionaires have called for higher taxes on the wealthy. They urged political leaders at the World Economic Forum to address the negative effects of extreme wealth concentration.