World Will Have First Trillionaire Within 10 Years

As wealth of the five richest men doubles...

- Sarah O'Grady

THE first trillionaire is likely to emerge in the next decade as the rich become richer and the poor end up even poorer, Oxfam has warned.

The world's five wealthiest people have more than doubled their fortunes to £677billion since 2020 while the poorest 60%, almost five billion, have actually lost money.

This yawning gap between haves and have-nots is likely to grow with poverty not eradicated for another 229 years should current trends continue, the charity's report claims.

Trillionaire status would be gained when a person's fortune hits one thousand billion US dollars, making them as wealthy as Saudi Arabia.

As the planet's wealthiest gather this week in Davos, Switzerland, for the annual World Economic Forum of politicians, executives and the superrich, the report Inequality Inc highlights a stark increase in imbalance since the pandemic.