Billionaire wealth surged by $2 trillion in 2024, growing three times faster than the previous year, as global inequality widened, Oxfam reported during Davos. The group warns of a "new aristocracy," with at least five trillionaires expected by 2034.

Billionaires' wealth soared in 2024, a top anti-poverty group said ahead of an annual gathering in Davos, Switzerland of some of the world's political and financial elite.

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