Wealth Accumulation and Global Inequality
reports a significant surge in billionaire wealth in 2024, highlighting a dramatic increase of $2 trillion, with the world's richest individuals adding $5.7 billion daily to their fortunes.
Despite this wealth accumulation, global poverty rates have barely changed since 1990, with 44% of humanity living on less than $6.85 per day, underscoring a persistent and widening inequality gap.
Calls for Change and Political Context
Oxfam's report, coinciding with the in , criticizes the economic system for enabling billionaires to influence policies, and calls for taxation of the wealthy, regulation of corporations, and breaking up monopolies to reduce inequality.
The report references U.S. political figures, highlighting President and billionaire as central to the described "aristocratic oligarchy," and echoes concerns from outgoing President about the concentration of power among the ultra-wealthy.