Wealth managers · Investment news

World could see its first ‘trillionaire’ in next decade

Tesla founder Elon Musk. Photo via Wikimedia CC-BY-2.0

The global wealth gap has alarmingly widened since 2020, with the top five richest men globally having more than doubled their fortunes. In stark contrast, nearly five billion people worldwide experienced a decline in their financial wellbeing, a study by anti-poverty group Oxfam revealed on Monday.

Released to coincide with the World Economic Forum Annual Meeting in Davos, the report painted a grim picture of economic disparity.

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