At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

Move over billionaires. The first trillionaires are on their way.

China's Vice-Premier Ding Xuexiang at the 55th annual World Economic Forum meeting in Davos, Switzerland, January 21, 2025. REUTERS/Yves Herman China does not pursue a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

A speech by the U.N. chief, economic growth potential in places like China and Russia, the challenges of artificial intelligence and leaders from Spain to Malaysia are set to headline the agenda at the World Economic Forum’s annual event in Davos.

The charity reported that the wealth of the world's billionaires grew from $13 trillion to $15 trillion in 2024, a rate that is three times faster than in 2023.

German Chancellor Olaf Scholz on Tuesday vowed to "defend free trade as the basis of our prosperity", a day after US President Donald Trump threatened to impose tariffs and taxes on trade partners.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland. "He came to one of our conferences, [and] he and I had a nice, long chat. We settled some of our differences."

Elon Musk is clashing with OpenAI CEO Sam Altman over the Stargate artificial intelligence (AI) infrastructure project touted by President Donald Trump, the latest in a feud between the two tech billionaires that started on OpenAI’s board and is now testing Musk’s influence with the new president.

It's the latest in a feud between the two tech billionaires that started on OpenAI's board and is now testing Musk's influence with the new president.

The World Economic Forum in Davos, Switzerland, is underway this week — and there are calls for taxing the extremely rich to address global inequality.

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At the World Economic Forum in Davos, industry leaders debated Bitcoin’s role as a reserve asset, the memecoin frenzy and crypto’s future amid Trump’s return to the Oval Office.