The global billionaire population and their accumulated wealth reached new heights in 2024, according to a recent Oxfam report, which underscores the accelerating pace of wealth concentration alongside persistent global poverty and inequality.

In 2024, billionaire wealth increased at three times the rate observed in 2023, equating to $5.7 billion daily. The total number of billionaires grew by 204, bringing the global count to 2,769. Collectively, their wealth surged from $13 trillion to $15 trillion in just 12 months, marking the second-largest annual increase since records began.

The report reveals that the ten richest men saw their wealth grow by nearly $100 million per day on average. Even if these individuals lost 99% of their wealth overnight, they would remain billionaires.

The analysis also suggests that much of this wealth is inherited or acquired through monopolistic power or corruption. Approximately 18% of billionaire wealth is attributed to monopolistic practices.

While billionaires thrive, 44% of the global population—about 3.6 billion people—lives below the poverty line of $6.85 per day, as defined by the World Bank. This percentage has barely changed since 1990.

Women are disproportionately affected by extreme poverty, with one in ten living on less than $2.15 per day, translating to 24.3 million more women than men in such conditions.

Oxfam highlighted that reducing inequalities could triple the pace of poverty eradication. However, progress in poverty reduction has stalled in recent years.

The report’s release coincides with the World Economic Forum in Davos, where corporate leaders and billionaires convene. At the same time, Washington marks the inauguration of U.S. President Donald Trump, whose advisory team includes several billionaires, notably Elon Musk, CEO of Tesla and SpaceX.