World Could Witness First Trillionaire Within Ten Years, Says Anti-Poverty Group

According to Oxfam, an organization dedicated to eradicating poverty, the first trillionaire in history is expected to emerge in the next ten years. The forecast is made as the richest countries in the world convene for both public and private talks in Davos, Switzerland. The future of democracy, the impact of artificial intelligence (AI) on corporations, ongoing global wars, and climate change are just a few of the topics that leaders from over 60 countries will be debating. Oxfam frequently highlights the stark disparities in wealth between the richest and poorest people on the planet. The COVID-19 pandemic, it was discovered, had “supercharged” these distinctions.

According to Oxfam, since 2020, the net worth of the world’s five richest individuals has increased by more than 100%. These include Oracle’s Larry Ellison, Berkshire Hathaway CEO Warren Buffett, Amazon’s Jeff Bezos, Tesla’s Elon Musk, and LVMH’s Bernard Arnault. The current director of Oxfam is Amitabh Behar. The world is going toward a “decade of division,” according to Behar. The head of the group pointed out that “almost 5 billion people have become poorer” throughout 2020, despite the fact that the wealthiest five individuals had doubled in value. Behar forecast that the world will see its first trillionaire in roughly ten years. A individual with a net worth of $1 trillion would be called a trillionaire. Behar pointed out that it would take at least 200 years to eradicate poverty.

According to the group, it’s likely that the first trillionaire will not be identified for some time, which means they won’t necessarily be among the top five richest people in the world right now. Most people agree that American John D. Rockefeller, the founder of Standard Oil, became the first billionaire in history in 1916. According to Oxfam, Musk currently holds the title of world’s richest man, with a net worth of little less than $250 billion. The company bases its projections on information gleaned from Forbes.

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