Oxfam report: Growing inequality could see world's first trillionaire

A person walks inside the venue, on the first day of the annual World Economic Forum meeting in Davos, Switzerland, Jan 15, 2024. [Reuters]

As hundreds of world leaders and chief executives headed to the Swiss ski resort of Davos Monday for this year's five-day annual meeting of the World Economic Forum (WEF), Oxfam is warning of a growing gulf of inequality fueled by corporate power.

"The world's richest five men have more than doubled their fortunes this decade since 2020 ... while nearly 5 billion people have been made poorer. At current rates, the world will see its first trillionaire within a decade, while it will take over two centuries to end poverty," said Nabil Ahmed of Oxfam America.