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

A leading NGO warned Monday of an emerging "aristocratic oligarchy" with massive political clout and primed to profit from Donald Trump's presidency, as global elites descend on Davos for their annual confab.

Billionaire wealth across the globe surged by USD 2 trillion in 2024 to USD 15 trillion at a rate three times faster than the previous year, a study showed on Monday here as the richest of the world began to assemble for their annual jamboree in this ski resort town.

Oxfam said trillionaires are expected to emerge within the next decade, as the richest 1% now own 45% of global wealth, while 44% of humanity lives on less than $6.85 per day.

New Oxfam report says billionaire wealth grew by $2 trillion in 2024 alone | One of India's leading Digital News Agency offering Breaking News round the clock. Why not read our informative news portal today.

The collective wealth of UK billionaires increased by £35 million per day to a total of £182 billion in 2024, according to a report from Oxfam. This growth in cash would be enough to cover the city of Manchester in £10 notes almost one-and-a-half times,

In 2024, the number of billionaires rose to 2,769 while their combined wealth surged from $13 trillion to $15 trillion

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.

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

Billionaire wealth grew by $2tn in 2024, three times faster than the previous year, according to Oxfam's latest report on wealth.

BILLIONAIRES’ CLUB: With Trump taking office, the Davos set arrives on the Magic Mountain this year with newfound swagger. Even as the rest of the world frets about Trump’s threats of a trade war, Wall Street has never had it so good, as your Global Playbook author reports in this story.