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From Washington to Davos, the ranks of billionaire elites grow

Billionaires' wealth 'surged' by $2 trillion in a year, while 44% of the world population lives on less than $6.85 a day.

Global leaders gather each year for the World Economic Forum in Davos, Switzerland.
Global leaders gather each year for the World Economic Forum in Davos, Switzerland. (AN/J. Heilprin)

The World Economic Forum formally opened its annual meeting of global decision makers in the Swiss Alps at the exact hour that Donald Trump returned to the White House, creating a strikingly divergent set of world stages for billionaire-led globalists and billionaire-led right-wing populists.

Pegged to the annual meeting of elites in Davos was a new report on Monday by Oxfam International showing that billionaires' wealth "surged" by $2 trillion in 2024, triple the rate from just a year before, but the number of people living in poverty has changed little since 1990.

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