Billionaire wealth soars to new heights in 2024
A report by Oxfam International reveals that billionaires’ wealth surged by $2 trillion in 2024, growing three times faster than in 2023,.
Their combined wealth climbed from $13 trillion to $15 trillion, with the number of billionaires rising to 2,769.
The world’s 10 richest men earned nearly $100 million daily on average.
Even losing 99% of their wealth, they would still remain billionaires.
Oxfam predicts at least five trillionaires will emerge within the next decade.
This wealth boom starkly contrasts with stagnant poverty levels worldwide.
Oxfam’s report calls this “modern-day colonialism,” as wealth continues to flow from poorer to richer nations, often linked to historical exploitation.
The report urges governments to tackle inequality by taxing the wealthy, abolishing tax havens and ending wealth transfers from the Global South to the Global North.
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