Billionaire Wealth Increases by $2 Trillion in 2024, Poverty Levels Stagnant Since 1990: Oxfam

According to a report by Oxfam International released during the World Economic Forum meeting in Davos, Switzerland, billionaires' wealth grew three times faster in 2024 than in 2023. Oxfam forecasts the emergence of at least five trillionaires in the next decade, a significant increase from their previous projection of one trillionaire. The report emphasizes that the percentage of people living in poverty has remained almost unchanged since 1990, with 44% of the global population living below the World Bank poverty line of $6.85 per day. Oxfam calls on governments to revise global economic regulations to prevent the incomes of the top 10% from surpassing those of the bottom 40% worldwide.