Over the past few years, especially since 2020, the wealth of the five richest individuals has more than doubled. This increase is such that despite inflation, the world will soon get its first trillionaire within a decade. The combined wealth of the five billionaires has increased by 114 percent since 2020, to a total of $869 billion. The information was released by Oxfam’s annual inequality report on Sunday. Elon Musk is one of the 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 Forbes Top 10 Rich list for 2024. By the end of November 2023, the business tycoon’s wealth saw an increase of $245.5 billion (Rs 20.34 lakh crore). This is 737 percent more than March 2020.

Apart from Musk, Bernard Arnault’s net worth also increased by 111 percent to $ 191.3 billion (Rs 15.84 lakh crore). Bernard is the chairman of French luxury goods group LVMH. Amazon founder Jeff Bezos also made it to the list, with his wealth rising 24 percent to Rs 167.4 billion (Rs 13.87 crore). Oracle founder Larry Ellison’s net worth also saw a 107 percent increase, reaching $145.5 billion (Rs 12.05 lakh crore) in 2020.

Berkshire Hathaway CEO Warren Buffett completed the list of top five richest people as his net worth increased by 48 per cent to $119.2 billion (Rs 98,76,79 crore). The wealth of American billionaires, many of whom make profits through shares in 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 wealth. Oxfam, citing data from Wealth