Billionaire fortunes jumped dramatically in 2024, with the world's richest people increasingly benefiting from inheritance and strong connections, according to “Oxfam's” latest annual inequality report.
The total wealth of the world's richest people rose from $13 trillion to $15 trillion in just 12 months, marking the second-largest annual increase in billionaire wealth since Oxfam began to record. In contrast, the number of people living in poverty has remained virtually unchanged since 1990, the report showed, based on World Bank data.
The richest 1 percent of the world's population owns about 45 percent of total wealth, while 44 percent of people live below the World Bank's poverty line of $6.85 a day.
Source (Al-Arabiya.net Website, Edited)
