Group’s report comes as the world’s political and financial elite prepare for an annual gathering in Davos, Switzerland.

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.

Behar said the planet's five richest people — Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett — have seen their fortunes increase by 114 percent since 2020, and the prospect of someone amassing $1,000 billion — a trillion — is now very real.

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

The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.

Malawi’s richest 10 percent are in control of about a third of the national income, highlighting persisting inequality gaps, an Oxfam study report has shown. In contrast, the 2024 report launched yesterday also found that the poorest 10 percent hold less than two percent of wealth.

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

OxFam International’s research adds weight to a warning by outgoing President Joe Biden last week of a “dangerous concentration of power in the hands of very few ultra-wealthy people.”

Billionaire wealth surged by $2 trillion in 2024, growing three times faster than the previous year, as global inequality widened, Oxfam reported during Davos. The group warns of a "new aristocracy," with at least five trillionaires expected by 2034.

Within a decade, the world could witness the emergence of its first trillionaire, Oxfam International warns in its latest inequality report. Released during the World Economic Forum in Davos, the report underscores a stark reality: the wealth of the top five billionaires has more than doubled since the pandemic,

Trump's second presidency dominated proceedings at the World Economic Forum amid ominous warnings over the looming threat of trade tariffs and his decision to pull the United States out of the Paris climate agreement.