Billionaires' wealth soared in 2024, a top anti-poverty group said ahead of an annual gathering in Davos, Switzerland of some of the world's political and financial elite.

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.

Currently the richest man in the world, Elon Musk, with earnings of 430 billion dollars, could become a trillionaire in a few years.

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

Behar said the planet's five richest people — Tesla CEO Elon Musk, LVMH owner Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett — have seen their fortunes increase by 114 percent since 2020, and the prospect of someone amassing $1,000 billion — a trillion — is now very real.

The world's richest accumulated massive wealth in 2024, which some speculate could reach even greater heights in the next few years.

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

The wealth of the world’s billionaires skyrocketed by a staggering 2$ trillion (£1.64 trillion) in 2024, a surge three times

Oxfam's annual inequality report shows the rapid acceleration of wealth accumulation by the world's richest in 2024, as 44 percent of the world continues to live in poverty. FRANCE 24's Business

According to Oxfam International, the wealth of billionaires globally grew three times faster in 2024 compared to the previous year, just as many of

OxFam International’s research adds weight to a warning by outgoing President Joe Biden last week of a “dangerous concentration of power in the hands of very few ultra-wealthy people.”