Billionaire wealth accumulation has tripled, consolidating their power in what advocates call “the era of the billionaire.” The combined wealth of the world’s richest individuals surged to $15 trillion in 2024, up from $13 trillion in 2023, marking the second-largest annual increase in billionaire wealth tracked by Oxfam. Oxfam highlighted that over a third of billionaire wealth is inherited, with nearly $6 trillion set to pass to heirs in the next 15 years.
