Over the past few years, particularly from 2020, the wealth of the five richest men has more than doubled. Such is the hike that the world will soon get its world’s first trillionaire within a decade, despite the inflation. The net worth of five billionaires has skyrocketed by 114 percent, making a total of $869 billion since 2020. The information was released by Oxfam’s annual inequality report on Sunday. Elon Musk is one of these five billionaires whose net worth has skyrocketed since 2020. He runs several companies including Tesla and SpaceX. He emerged as a big winner by topping the list of Forbes’ top 10 richest list for 2024. By November end of 2023, the business tycoon saw a rise of $245.5 billion (Rs 20.34 lakh crore) in his wealth. This is 737 per cent up from March 2020.
Besides Musk, Bernard Arnault’s net worth also increased by 111 per cent to $191.3 billion (Rs 15.84 lakh crore). Bernard is the chairman of the French luxury goods conglomerate LVMH. Amazon founder Jeff Bezos has also made it to the list as his fortune increased by 24 percent to 167.4 billion (Rs 13.87 crore). Oracle founder Larry Ellison also witnessed an increase of 107 percent in his net worth, which reached $145.5 billion (Rs 12.05 lakh crore) in 2020.
Berkshire Hathaway CEO Warren Buffett completed the list of top five wealthiest persons as his net worth increased by 48 per cent to $119.2 billion (Rs 98,76,79 crore). The wealth of US billionaires, many of whom make profits through shares in the companies, has increased by $1.6 trillion.
It is pertinent to note that the top one percent holds 43 percent of the world’s financial assets. Oxfam citing the data from Wealth X also suggested that the particular group owns 32 percent in the US, 50 percent in Asia, 48 percent in the Middle East and 47 percent of the financial wealth in Europe.
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