REPORT: World Could See First Trillionaire Within 10 Years
January 15, 2024 8:53AM AKST
FILE - Elon Musk, owner of social media platform X, gestures during an event with Britain's Prime Minister Rishi Sunak in London on Nov. 2, 2023. The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday Jan. 15, 2024 in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos. (AP Photo/Kirsty Wigglesworth, Pool, File)
DAVOS, Switzerland (AP) — The anti-poverty organization Oxfam International says the world could have its first trillionaire within a decade.
The group on Monday released an annual assessment of global inequalities timed to the World Economic Forum’s gathering of political and business elites at the Swiss ski resort of Davos.
Oxfam says the fortunes of the five richest men have spiked by 114% in real terms since 2020, when the world was reeling from the coronavirus pandemic.
They are Tesla CEO Elon Musk, Bernard Arnault and his family of luxury company LVMH, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investment guru Warren Buffett.
By contrast, Oxfam says nearly 5 billion people have been made poorer since the pandemic.
