The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Donald Trump.

As the world economic forum kicks off in Davos, Oxfam is putting the spotlight on wealth inequality. According to the anti-poverty group, billionaires' wealth increased three times faster last year than in 2023.

A leading NGO warned Monday of an emerging "aristocratic oligarchy" with massive political clout and primed to profit from Donald Trump's presidency, as global elites descend on Davos for their annual confab.

Last year marked the second-largest annual increase in billionaire wealth since records started, according to Oxfam.

The 2025 Davos theme, "Collaboration for the Intelligent Age," highlights the wealth inequalities that LCDs face.

In 2024, the number of billionaires rose to 2,769 while their combined wealth surged from $13 trillion to $15 trillion

Prime Minister Meloni is in Washington, D.C. to attend Trump's inauguration as 47th President of the United States She is

External Affairs Minister S. Jaishankar emphasised the vital role of the quad (India, the United States, Japan, and Australia) as a force for global good during the bloc’s Foreign Ministers’ meeting held in Washington DC.

Critics argue this surge in ultra-wealth worsens inequality, fueling calls for stronger taxes and regulation.

Per the Oxfam report, even during colonialism, a similar pattern was followed by allowing private multinational corporations monopolies with overseas expansion. The UK extracted $64.82 trillion from India over a century of colonialism between 1765 and 1900,

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.