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.

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.

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

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.

Last year marked the second-largest annual increase in billionaire wealth since records started, according to Oxfam.

The World Economic Forum has officially begun. What's at stake for the global development world? We bring you the chalet play-by-play in this Newswire special edition.

Latest assessment by Oxfam International, timed with the opening of the World Economic Forum, predicts that at least five trillionaires will emerge over the next decade. Billionaires' wealth grew three times faster in 2024 compared to the previous year,

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

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.

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 gathering.