We could see the world's 1st trillionaire in the next decade. Here are some of today's richest 1%
The world might see its first trillionaire sooner than you think
NEW YORK — The world might see its first trillionaire sooner than you think. And that puts a spotlight on today's richest 1%.
In an annual assessment of global inequalities published earlier this week, Oxfam International said the first trillionaire could emerge within the next decade — as the anti-poverty organization pointed to the growing wealth gap that skyrocketed globally during the COVID-19 pandemic.
Among the findings, Oxfam highlighted how the personal fortunes of the world's five richest people — Tesla CEO Elon Musk, Bernard Arnault and his family of luxury company LVMH, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investment guru Warren Buffett — have more than doubled since 2020.
To measure this jump, Oxfam pulled net worths from Forbes' real-time billionaires list as of March 2020 and the end of November 2023. Such lists fluctuate over time and even within hours — so while Buffett, for example, was the 5th richest person in November, he stood in 7th place per Forbes' Wednesday rankings.
Oxfam timed its report to the gathering of political and business elites in Davos, Switzwerland, where the World Economic Forum meets annually. Numerous billionaires and multimillionaires also penned a letter calling on global leaders to fairly tax the super rich like themselves. Musk, Arnault, Bezos, Ellison and Buffett were not among the signatories — although Buffett has famously criticised the wealthy's lower tax rates and previously advocated for policy change in the same vein.
Here's a look at the wealth of these five billionaires spotlighted this week, and where their fortunes stand today.
Elon Musk is currently considered as the world's
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