Move over billionaires. The first trillionaires are on their way.
Oxfam’s latest inequality report, unveiled on the eve of the World Economic Forum in Davos, projects that five billionaires, led by Elon Musk, are set to surpass $1 trillion in wealth within a decade.
At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.
Tesla CEO Elon Musk is widely expected to be the first person to hit trillionaire status.
The world could soon see its first trillionaires, with five individuals projected to reach the milestone within the next decade if current trends persist, according to Oxfam's annual inequality report released Sunday reported CNN Business.
Billionaire wealth surged last year, with the world's richest individuals adding $2 trillion to their pockets in 2024, according to a new report released Monday.
In 2024, the wealth of the world’s billionaires soared by an astounding $2 trillion (£1.64 trillion), a growth rate three times faster than the previous year, averaging $5.7 billion per day, according to an Oxfam report.