The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.

A leading NGO warned Monday of an emerging "aristocratic oligarchy" with massive political clout and primed to profit from Donald Trump's presidency, as global elites descend on Davos for their annual confab.

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 development organization Oxfam predicts that the world’s first trillionaires could emerge within the next decade. The report highlights that the wealth of the ten richest billionaires has grown by an average of $100 million per day over the past ten years.

Last year marked the second-largest annual increase in billionaire wealth since records started, according to Oxfam.

The 2025 Davos theme, "Collaboration for the Intelligent Age," highlights the wealth inequalities that LCDs face.

In 2024, the number of billionaires rose to 2,769 while their combined wealth surged from $13 trillion to $15 trillion

Oxfam International reported that billionaires' wealth increased three times faster in 2024, outpacing the previous year's growth. Ahead of the World Economic Forum in Davos, the group also

Billionaire’s wealth has grown faster last year, and now the world can expect at least five trillionaires within a decade, even as the number of people in poverty has barely budged since 1990

A leading NGO warned Monday of an emerging "aristocratic oligarchy" with massive political clout and primed to profit from Donald Trump's presidency, as global elites descend on Davos for their annual confab.

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.