(From left to right) Mr. Jeff Bezos, Mr. Warren Buffett, Mr. Bernard Arnault, Mr. Larry Ellison and Mr. Elon Musk
Billionaire Elon Musk, currently ranked among the five richest people on the planet, has been the winner in recent years. His fortune increased to $245.5 billion at the end of November 2023, up 737% from March 2020, after accounting for inflation.
Billionaire Bernard Arnault, chairman of luxury goods empire LVMH, and his family saw their collective fortune increase to $191.3 billion, up 111% over the same period.
Amazon founder Jeff Bezos' fortune grew 24% to $167.4 billion, while Oracle founder Larry Ellison's net worth increased 107% to $145.5 billion.
Coming in at number five is billionaire Warren Buffett of Berkshire Hathaway, with his net worth up 48% to $119.2 billion.
If this trend continues, Oxfam predicts the world will see the birth of its first trillionaire within a decade, according to CNN on November 15.
At the same time, nearly 5 billion people globally have become poorer since 2020, due to the combined effects of inflation, conflict and the climate crisis.
Oxfam calculates that it would take nearly 230 years to eradicate poverty based on current trends.
The report was released as the annual World Economic Forum kicked off in Davos, Switzerland, bringing together the world's richest people and leaders.
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