THE first trillionaire is likely to emerge in the next decade as the rich become richer and the poor end up even poorer, Oxfam has warned.
The world's five wealthiest people have more than doubled their fortunes to £677billion since 2020 while the poorest 60%, almost five billion, have actually lost money.
This yawning gap between haves and have-nots is likely to grow with poverty not eradicated for another 229 years should current trends continue, the charity's report claims.
Trillionaire status would be gained when a person's fortune hits one thousand billion US dollars, making them as wealthy as Saudi Arabia.
As the planet's wealthiest gather this week in Davos, Switzerland, for the annual World Economic Forum of politicians, executives and the superrich, the report Inequality Inc highlights a stark increase in imbalance since the pandemic.
This story is from the January 16, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 16, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
DEVIL IS IN THE DETAILS
STEVE BORTHWICK has been handed the secret of how to shut out tight games by a Springboks team that know how to get the job done.
KEELY KEY TO FUTURE AS £1.2M LOSS MADE
UK ATHLETICS will attempt to cash in on Keely Hodgkinson's rise to superstardom after the governing body confirmed another seven-figure loss in the last financial year.
Couple sue for £36m...over moths
Dream home ravaged by insects’
Elton: My death row meal would be just sweet treats
SIR Elton John has complained of missing forbidden \"chocolate and ice cream\" after ridding his diet of sweet things to slash his blood sugar levels.
I taught Eddie the way of the Jackal...
AN ex-Para surveillance specialist has detailed the spy's tricks he taught Eddie Redmayne for his Day of the Jackal role, including how to use a phone as a weapon.
Kate's carol service will highlight 'how we need each other'
THE Princess of Wales will deliver a poignant message on how much we need each other, especially in our most difficult times, at her annual Christmas carol concert.
Starmer seeks good Trump relationship’
SIR Keir Starmer has said he was not surprised to get on well with Donald Trump despite fears about how the pair will work together.
Gary Lineker pockets £30m of licence fee payers' money
GARY Lineker will have cost licence fee payers more than £30million during his 26-year BBC career, analysis has suggested.
Fears law to jail memoria vandals could be ditched
LABOUR has been urged not to water down plans to jail yobs who climb on war memorials and fine them £1,000.
Streeting to erack down on failing NHS trusts
HOSPITALS will be ranked in league tables and failing managers axed under plans to crack down on poor NHS performance.
