Oxfam says wealth of billionaires soared in 2024
Advocacy group Oxfam said that the wealth of billionaires globally grew three times faster in 2024 than the previous year, reported Al Jazeera.
In its assessment of global inequality released on January 20th timed to the opening of the World Economic Forum (WEF) meeting in Davos, Switzerland, the group said the combined wealth of billionaires rose by $2 trillion to $15 trillion last year.
The report, titled Takers Not Makers, said there was an increase of 204 billionaires from 2023, raising the number to 2,769. It said at least four new billionaires were “minted” each week, and 3/5ths of their wealth came from inheritance, monopoly power or “crony connections”.
Al Jazeera
