The Oxfam report pointed out that the number of billionaires rose by 204 to 2,769 last year|Edward Hands|CC BY-SA 4.0
The world saw four new billionaires every week in 2024, according to a new report from the nonprofit Oxfam. It shows the ever-expanding wealth divide between the ultra-rich and the poor.
Titled “Takers Not Makers,” the report pointed out that last year, the number of billionaires rose by 204 to 2,769, with their combined wealth climbing from $13 trillion to $15 trillion.
Notably, the top 10 wealthiest men grew their fortunes by $100 million a day on average.
Among them is President Donald Trump’s close ally Elon Musk, who is projected to become the world’s first trillionaire by 2027, according to Informa Connect Academy. He is worth around $440 billion, the Bloomberg Billionaires Index indicates.
Amazon’s Jeff Bezos, luxury conglomerate LVMH’s Bernard Arnault and Meta’s Mark Zuckerberg also top the global wealth rankings.
At the same time, 3.6 billion people—44% of the world’s population—live below $6.85 a day, with women disproportionately affected.
Oxfam attributes much of the billionaire wealth to inheritance, monopoly power, and cronyism, with rising stock and property values fueling growth. The report calls for systemic reforms, including fairer taxation, to combat inequality and fund essential public services.