Oxfam: World's billionaires' wealth to increase by $2 trillion in 2024 with 4 new billionaires emerging every week
The wealth of the world's 10 richest people increased by an average of $100 million a day in 2024
Source:
Asharq
The growth of billionaire wealth around the world in 2024 has accelerated to three times its level in the previous year, prompting Oxfam to expect the emergence of at least 5 trillionaires within 10 years, after it had expected the emergence of only one trillionaire a year ago.
The wealth of the world's billionaires, 68% of whom are concentrated in northern countries such as the United States, Britain and France, increased by two trillion dollars last year, with the emergence of 204 new billionaires at a rate of 4 every week, according to a report issued today, Monday, by the organization, which is considered an international federation of charitable organizations.
American businessman Elon Musk is the closest candidate to becoming the world's first trillionaire, with a fortune currently estimated at $449 billion, according to the Bloomberg Billionaires Index. Last September, Informa Connect Academy predicted that the wealth of the owner of the social networking platform "X" would reach one trillion dollars by 2027 if it continued to grow at its current rate of 110% annually.
The number of billionaires in the world reached 2,769 people in 2024, up from 2,565 billionaires in 2023, with their wealth growing to 15 trillion, recording the second largest annual increase since the beginning of recording data.
The report added that the wealth of the world's 10 richest people increased by an average of about $ 100 million per day during the past year, and even if they lost 99% of their wealth in one moment, they would not be removed from the billionaire club.
On the other hand, the organization indicated that the number of people living on less than $ 6.85 per day has remained the same since 1990, according to World Bank data, calling on governments to impose more taxes on the rich to reduce the gap.