Stay updated with breaking news from Wealth Report. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
By contrast, Oxfam says nearly 5 billion people have been made poorer since the pandemic, with many of the world's developing nations unable to provide the financial support that richer nations could during lockdowns.
The assessment found Elon Musk is currently the richest man in the world
Oxfam International predicts that the world could have its first trillionaire within a decade, highlighting the growing disparities between the super-rich and the majority of the global population. The group claims that the wealth of the top five billionaires, including Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Warren Buffett, has spiked by 114% in real terms since 2020.
But Oxfam, which tries to spotlight the growing disparities between the super-rich and the bulk of the global population, says the gap has been "supercharged" since the COVID pandemic.
The assessment comes as political and business elites gather for the World Economic Forum’s annual meeting in Davos, Switzerland.