Billionaire wealth surged in 2024, as the world’s richest people increasingly benefited from inheritance and powerful connections, Oxfam said in its annual inequality report.

Group’s report comes as the world’s political and financial elite prepare for an annual gathering in Davos, Switzerland.

Oxfam's latest report shows billionaire wealth surged by $2 trillion in 2024, with new billionaires minted daily. Discover how wealth inequality is widening globally.

Billionaire wealth surged last year, with the world's richest individuals adding $2 trillion to their pockets in 2024, according to a new report released Monday.

Billionaire wealth across the globe surged by USD 2 trillion in 2024 to USD 15 trillion at a rate three times faster than the previous year, a study showed on Monday here as the richest of the world began to assemble for their annual jamboree in this ski resort town.

Billionaire's wealth has grown faster last year, and now the world can expect at least 5 trillionaires within a decade, even as the number of people in poverty has barely budged since 1990.

Billionaires' wealth soared in 2024, a top anti-poverty group said ahead of an annual gathering in Davos, Switzerland of some of the world's political and financial elite.