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

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.

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.

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.

Tesla CEO Elon Musk is widely expected to be the first person to hit trillionaire status.

The world will soon have five trillionaires. New research shows this will happen within a decade. Who will they be?

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.

Think you earn a decent salary? The latest inequality report from Oxfam found Australia's billionaires took home 1,300 times more than the average Aussie earner last year.