Move over billionaires. The first trillionaires are on their way.

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

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,

Follow The Hindu’s updates of Day 1 of the World Economic Forum 2025, in Davos, Switzerland, on January 20, 2025

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

A recent report by Oxfam International reveals a shocking truth. During colonial rule, the UK took around $64.82 trillion from India. Most of this wealth went to the richest 10% of people.

The World Economic Forum in Davos, Switzerland, is underway this week — and there are calls for taxing the extremely rich to address global inequality.

Drawing on a range of studies and research papers, Oxfam calculated that between 1765 and 1900, the richest 10 percent in the UK extracted wealth from India equivalent to $33.8 trillion in today’s ter

In 2024, an average of nearly four new billionaires were coined every week, according to Oxfam. Much of their wealth will be passed down to heirs.

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A speech by the U.N. chief, economic growth potential in places like China and Russia, the challenges of artificial intelligence and leaders from Spain to Malaysia are set to headline the agenda at the World Economic Forum’s annual event in Davos.