The charity reported that the wealth of the world's billionaires grew from $13 trillion to $15 trillion in 2024, a rate that is three times faster than in 2023.

Billionaire's wealth has grown faster last year, and now the world can expect at least 5 trillionaires within a decade, even as the number of people in poverty has barely budged since 1990.

Group’s report comes as the world’s political and financial elite prepare for an annual gathering in Davos, Switzerland.

Billionaire wealth grew by $2tn in 2024, three times faster than the previous year, according to Oxfam's latest report on wealth. View on euronews

Currently the richest man in the world, Elon Musk, with earnings of 430 billion dollars, could become a trillionaire in a few years.

Behar said the planet's five richest people — Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett — have seen their fortunes increase by 114 percent since 2020, and the prospect of someone amassing $1,000 billion — a trillion — is now very real.

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

The wealth of the world’s billionaires skyrocketed by a staggering 2$ trillion (£1.64 trillion) in 2024, a surge three times

Oxfam's annual inequality report shows the rapid acceleration of wealth accumulation by the world's richest in 2024, as 44 percent of the world continues to live in poverty. FRANCE 24's Business

OxFam International’s research adds weight to a warning by outgoing President Joe Biden last week of a “dangerous concentration of power in the hands of very few ultra-wealthy people.”