inheritance tax

Billionaire wealth has risen three times faster in 2024 than 2023. Five trillionaires are now expected within a decade.

Billionaire wealth grew by $2 trillion in 2024 alone, equivalent to roughly $5.7 billion a day, at a rate three times faster than the year before. An average of nearly four new billionaires were minted every week. Meanwhile, the number of people living in poverty has barely changed since 1990, according to World Bank data.

Billionaire wealth has risen three times faster in 2024 than in 2023. At least five trillionaires are now expected within a decade. Meanwhile, the number of people living in poverty has barely changed since 1990. Inequality is out of control.

Pressure is piling on the G20 to lead a global push to increase taxes on the richest citizens back to past levels that most people believe were fairer and more useful for society.