Oxfam's latest report reveals that the combined wealth of the world's billionaires surged to $15 trillion in just one year, marking the second-largest annual increase ever recorded. The report highlights the accelerating accumulation of wealth among the ultra-rich and calls for increased taxation on the super-rich to address growing inequality.
The rich are getting richer. The combined wealth of the world’s most wealthy rose to $15 trillion from $13 trillion in just 12 months, according to Oxfam’s latest annual inequality report — notching the second largest annual increase in billionaire wealth since the global charity began tracking this data. Last year alone, roughly 204 new billionaires were minted, bringing the total number of billionaires to 2,769, up from 2,565 in 2023, the global charity found.
In an open letter to political leaders attending the annual World Economic Forum in Davos, Switzerland, more than 370 billionaires and millionaires said that they wanted to “tackle the corrosive impact of extreme wealth.” To that end, “start with the simplest solution: tax us, the super rich,” the letter said. 36% of billionaire wealth is inherited Oxfam found that 36% of billionaire wealth is now inherited. Much of that wealth will also get handed down.
Finance Inequality Billionaires Wealth Taxation Inheritance
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