As the world economic forum kicks off in Davos, Oxfam is putting the spotlight on wealth inequality. According to the anti-poverty group, billionaires' wealth increased three times faster last year than in 2023.

Move over billionaires. The first trillionaires are on their way.

The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.

Follow The Hindu’s updates of Day 1 of the World Economic Forum 2025, in Davos, Switzerland, on January 20, 2025

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

The combined wealth of UK billionaires surged by a staggering £35 million per day in 2024, reaching a total of £182 billion, according to a new report by Oxfam. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The world will soon have five trillionaires. New research shows this will happen within a decade. Who will they be?

The wealth of the world’s billionaires skyrocketed by a staggering 2$ trillion (£1.64 trillion) in 2024, a surge three times

Oxfam International, in its latest assessment of global inequality timed to the opening of the World Economic Forum meeting, also predicts at least five trillionaires will crop up over the next decade.

Per the Oxfam report, even during colonialism, a similar pattern was followed by allowing private multinational corporations monopolies with overseas expansion. The UK extracted $64.82 trillion from India over a century of colonialism between 1765 and 1900,

Oxfam’s 2024 report highlights surging wealth inequality, with billionaire wealth growing by $2 trillion and 204 new billionaires created. Meanwhile, 3.6 billion people live below the poverty line. The report calls for radical tax reforms and institutional changes to address disparities,