Get ready for the world’s first trillionaires
CNN
Move over billionaires. The first trillionaires are on their way.
Move over billionaires. The first trillionaires are on their way. Five people are expected to amass at least $1 trillion in wealth within the next decade, if current trends continue, according to Oxfam’s annual inequality report, released Sunday. Tesla and SpaceX CEO Elon Musk, currently the world’s richest person worth more than $430 billion, should cross the mark in just under five years. He will soon be joined by Amazon founder Jeff Bezos, Oracle founder Larry Ellison, Meta CEO Mark Zuckerberg and LVMH CEO Bernard Arnault and family. The Oxfam report, which draws on data compiled by Forbes, is timed to coincide with the kickoff of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the richest people and world leaders. Its release also comes the day before billionaire President-elect Donald Trump’s inauguration. 2024 was a very lucrative year for the world’s wealthiest individuals and families, fueled in part by a soaring US stock market, Oxfam found. Their net worth expanded so quickly that Oxfam revised its estimate from last year that only one trillionaire would be crowned in the next decade. “That’s an unimaginable amount,” Rebecca Riddell, senior policy lead at Oxfam America, said of $1 trillion. “This extreme inequality is nothing to celebrate.”
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