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

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

There is increasing disparity in the world today as an "aristocratic oligarchy" is amassing wealth at unforeseen levels, a report published by development organization Oxfam said. Published ahead of the World Economic Forum (WEF) in Davos,

Oxfam’s ‘Million Pound Pint’ campaign aims to highlight the disparity between the super-rich and the rest of the population.

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.

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

Follow The Hindu’s updates of Day 1 of the World Economic Forum 2025, in Davos, Switzerland, on January 20, 2025

Oxfam’s new report estimates that 54 percent of billionaire wealth is either inherited or stems from monopoly power.

US president Donald Trump has signalled that all imports into the country will face tariffs, a move that could spark tit-for-tat trade wars across the global economy as well as hitting Ireland’s valuable €54 billion export trade with the US. Eoin Burke-Kennedy reports from the world Economic Forum in Davos.

Costco shareholders rejected a proposal urging the wholesale club operator to evaluate any risks posed by its diversity, equity and inclusion practices. According to preliminary results shared by Costco executives at its annual meeting Thursday,

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