What’s in the news?

• • A report titled ‘Takers, not Makers’, released by Oxfam, has noted that billionaire wealth across the globe surged by $2 trillion in 2024 to $15 trillion at a rate three times faster than the previous year.

• Oxfam is a British-founded confederation of 21 independent non-governmental organizations, focusing on the alleviation of global poverty, founded in 1942 and led by Oxfam International. 
• In its flagship inequity report released every year on the first day of the World Economic Forum Annual Meeting, Oxfam International contrasted the huge jump in the billionaire wealth with the number of people living in poverty barely having changed since 1990.
• Wealth of billionaires in Asia increased by $299 billion in 2024, Oxfam said while predicting that there will be at least five trillionaires within a decade from now.

https://www.thehindu.com/news/international/billionaire-wealth-soars-three-times-faster-by-2-trillion-in-2024-oxfam/article69118281.ece