Move over billionaires. The first trillionaires are on their way.
The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.
Billionaire wealth surged in 2024, says Oxfam
The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.
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
At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.
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, Mark Zuckerberg and Jensen Huang are among those expected to hit trillionaire status, with Oxfam suggesting that there will be five within the next 10 years. Within the next ten years five people will hold the title of trillionaire—with a 13-figure fortune to their name—according to a new study from Oxfam.
Oxfam report said billionaire wealth grew by $2 trillion last year, or roughly $5.7 billion a day, three-times faster than in 2023.
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.
The world will soon have five trillionaires as the wealth growth rate of its richest people rises faster than earlier estimates, according to a recent forecast.
Currently the richest man in the world, Elon Musk, with earnings of 430 billion dollars, could become a trillionaire in a few years.