In the video: Amazon founder Jeff Bezos took off into space/photo: Reuters, editing: Lear Spiegler
The rich are getting richer at a rapid pace - according to research by the British organization Oxfam published this month.
According to the study, if the current trends continue, then in about a decade in 2034, the world's first trillionaire is expected to be crowned.
Those who are currently in the race are Elon Musk at the top of the list with $222 billion, followed by Bernard Arnault, CEO of Louis Vuitton with $179 billion. In third place is Jeff Bezos, owner of Amazon with $177 billion, followed by Larry Ellison of Oracle with $138 billion. Rounding out the top five is Mark Zuckerberg with $134 billion.
Since 2020, the net worth of these billionaires has jumped 114% to a total of $869 billion, after accounting for inflation, with their combined wealth growing by £11 million an hour.
Compared to 2020, billionaires are now $3.3 trillion better off.
At the same time, nearly 5 billion people around the world have become poorer, facing inflation, war and the climate crisis.
It will take almost 230 years to eliminate poverty according to the current trajectory: "If current trends continue, the world will have its first trillionaire within a decade, but poverty will not be eradicated for another 229 years," the study stated.
Zuckerberg and Musk, artificial intelligence image/documentation in social networks according to Article 27 A of the Copyright Law
The world's largest companies are also expected to smash record annual profits in 2023, with the 148 largest companies recording a total net profit of $1.8 trillion (£1.4 trillion) between them - a 52% jump in average net profit in 2021-2018.
Despite the inequality is on the rise, there are some bright spots, among them, for example, workers who improve their rights through strikes, and governments who help their employers and stand by them: "We find ourselves in a new golden age, but workers, regulators and union and community organizers are starting to crack it," said Oxfam's Nabil Ahmed .
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