Billionaires’ wealth soared in 2024, anti-poverty group says as the elites prepare for another Davos

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Billionaires’ wealth soared in 2024, anti-poverty group says as the elites prepare for another Davos
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Oxfam International reports billionaire wealth grew three times faster in 2024 and predicted there will be at least five trillionaires over the next decade

Billionaires’ wealth grew three times faster in 2024 than the year before, a top anti-poverty group reported on Monday as some of the world’s political and financial elite prepared for an annual gathering in Davos, Switzerland.

Ukrianian President Volodymyr Zelensky, South African President Cyril Ramaphosa, Israeli President Isaac Herzog, German Chancellor Olaf Scholz and European Commission President Ursula von der Leyen are scheduled to deliver speeches at Davos on Tuesday. Trump, who visited Davos twice during his first term, was expected to take part in the forum’s event by video on Thursday.

Like Biden’s call for making billionaires “begin to pay their fair share” through the U.S. tax code, Oxfam – a global advocacy group – called on governments to tax the richest to reduce inequality and extreme wealth, and to “dismantle the new aristocracy.”

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