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,

Oxfam International reported that billionaires' wealth increased three times faster in 2024, outpacing the previous year's growth. Ahead of the World Economic Forum in Davos, the group also forecasts the emergence of five trillionaires within a decade,

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.”