The annual gathering takes place against the backdrop of U.S. President Donald Trump's first days back in the White House,

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

German Chancellor Olaf Scholz on Tuesday vowed to "defend free trade as the basis of our prosperity", a day after US President Donald Trump threatened to impose tariffs and taxes on trade partners.

Officials and business executives at the annual gathering in Switzerland said the fight against global would continue with or without the United States.

The charity reported that the wealth of the world's billionaires grew from $13 trillion to $15 trillion in 2024, a rate that is three times faster than in 2023.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

Ukrainian President Volodymyr Zelenskyy speaks with CNBC's Andrew Ross Sorkin at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. The World Economic Forum officially began on Monday, but it's Tuesday when the event really kicks off.

The gathering, led by India Global Forum (IGF) founder Manoj Ladwa, included entrepreneurs engaging with Musk. The delegates also toured the Starbase facility, where they saw the successful launch and booster catch of SpaceXs Starship Flight 7.

German Chancellor Olaf Scholz said on Tuesday he does not support freedom of speech when it is used for extreme-right views, a day after a hand gesture by U.S. billionaire Elon Musk caused uproar during Donald Trump's inauguration festivities. Everyone can say what he wants, even if he is a billionaire.

Donald Trump will join next week's World Economic Forum conference in Davos digitally, organizers said on Tuesday (January 14), as world leaders await more information about the new US President's policies and commitment to stop the conflict in Ukraine.

The Indian delegation, representing diverse sectors from technology and manufacturing to renewable energy, discussed opportunities for collaboration on global challenges. Topics included the role of technology in finance and regulation,

Elon Musk sees positive trends in India-US trade, favoring an enhanced partnership. He met with Indian business leaders at SpaceX's Starbase in Texas, highlighting potential collaboration in technology and space exploration.