Oxfam’s latest inequality report, unveiled on the eve of the World Economic Forum in Davos, projects that five billionaires, led by Elon Musk, are set to surpass $1 trillion in wealth within a decade.
The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.
But nothing all that golden is minting these new wealthy individuals.“Most billionaire wealth is taken, not earned, 60% comes from either inheritance, cronyism and corruption or
Currently the richest man in the world, Elon Musk, with earnings of 430 billion dollars, could become a trillionaire in a few years.
The world is set to witness the emergence of five trillionaires within the next decade, according to Oxfam's latest inequality
French luxury conglomerate LVMH is denying reports that it is responsible for deteriorating and rusting Olympic medals that were handed out to athletes during the Summer Games in Paris last year.
The world could soon see its first trillionaires, with five individuals projected to reach the milestone within the next decade if current trends persist, according to Oxfam's annual inequality report released Sunday reported CNN Business.
Elon Musk, Jeff Bezos, and three others are projected to become trillionaires over the next decade, further deepening global inequality as poverty levels remain stagnant.
According to a new study by Oxfam, five individuals are projected to reach trillionaire status within the next decade, each amassing a
Behar said the planet's five richest people — Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett — have seen their fortunes increase by 114 percent since 2020, and the prospect of someone amassing $1,000 billion — a trillion — is now very real.
The report stressed that much of today's billionaire wealth is unearned, often linked to monopolies, cronyism, or inheritance
This projection marks a significant shift from a previous Oxfam report that indicated only one person would reach this milestone within a decade.