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

There is increasing disparity in the world today as an "aristocratic oligarchy" is amassing wealth at unforeseen levels, a report published by development organization Oxfam said. Published ahead of the World Economic Forum (WEF) in Davos,

The wealth of the world's 10 richest men grew US$100 million ($160 million) an hour on average last year, according to Oxfam's Takers Not Makers report, published on Monday.

Oxfam report said billionaire wealth grew by $2 trillion last year, or roughly $5.7 billion a day, three-times faster than in 2023.

Australian billionaires earn $67,000 an hour, according to a new report from Oxfam, which is 1300 times more than what everyday workers make.

As global elites arrive in Davos for the annual World Economic Forum, the global advocacy group Oxfam reported that billionaires' wealth increased three times faster in 2024 than the previous year, and it warned of an emerging aristocratic oligarchy with enormous political clout,

A new study from Oxfam projects that five individuals are on track to become trillionaires within the next ten years, amassing fortunes with 13 figures to their names. This projection marks a significant shift from a previous Oxfam report that indicated only one person would reach this milestone within a decade.

Group’s report comes as the world’s political and financial elite prepare for an annual gathering in Davos, Switzerland.

A latest inequality report revealed a major prediction that within the coming decade approximately five renowned personalities on this planet can eventually become trillionaires.

Although the word ‘oligarchy’ has been associated with Russian oil tycoons. But the analysis of 1,779 recent policy outcomes found that ‘economic elites and organised groups representing business inte