Billionaire wealth surged in 2024, as the world’s richest people increasingly benefited from inheritance and powerful connections, Oxfam said in its annual inequality report.

The charity reported that the wealth of the world's billionaires grew from $13 trillion to $15 trillion in 2024, a rate that is three times faster than in 2023.

Billionaire's wealth has grown faster last year, and now the world can expect at least five trillionaires within a decade, even as the number of people in poverty has barely budged since 1990.