Asia's Billionaires
Global billionaire wealth soars three times faster by $2 trn in 2024: Oxfam
Billionaire wealth across the globe surged by USD 2 trillion in 2024 to USD 15 trillion at a rate three times faster than the previous year, a study showed on Monday here as the richest of the world began to assemble for their annual jamboree in this ski resort town. In its flagship inequity report released every year on the first day of the World Economic Forum Annual Meeting, Oxfam International contrasted the huge jump in the billionaire wealth with the number of people living in poverty barely having changed since 1990. Wealth of billionaires in Asia increased by USD 299 billion in 2024, Oxfam said while predicting that there will be at least five trillionaires within a decade from now. The year 2024 saw 204 new billionaires getting minted -- an average of nearly four every week. Asia itself got 41 new billionaires in the year. In its report titled 'Takers, not Makers', Oxfam said the richest 1 per cent in the Global North extracted USD 30 million an hour from the Global South
 "Global billionaire wealth soars three times faster by $2 trn in 2024: Oxfam")
Top 10 cities with most billionaires in the world, Mumbai comes 3rd
According to the 2024 List, Mumbai and New Delhi have made it into the top 10 cities in the world with the most billionaires. For the first time, the nation's capital made it into the top 10 list
 "Top 10 cities with most billionaires in the world, Mumbai comes 3rd")
Adani forms joint venture to redevelop one of Asia's biggest slums Dharavi
Adani group won the Dharavi rebuilding project in July by bidding $610 million for the project
 "Adani forms joint venture to redevelop one of Asia's biggest slums Dharavi")
Asia outnumbers all other regions with over 950 billionaires: Report
When it comes to the number of billionaires by region, Asia now has 951 outnumbering all other regions. North America has 777 billionaires and Europe, 536.
 "Asia outnumbers all other regions with over 950 billionaires: Report")
Covid pandemic boosts billionaires' share of global household wealth
The World Inequality Report produced by a network of social scientists estimated that billionaires this year collectively own 3.5% of global household wealth
 "Covid pandemic boosts billionaires' share of global household wealth")
New rich overtake old money of chaebol in Korea's billionaire rankings
Brian Kim, the founder of mobile-messaging app Kakao Corp., is the most prominent example with a fortune of $12.9 billion
 "New rich overtake old money of chaebol in Korea's billionaire rankings")
Asia now has more billionaires than the US
One billionaire created every three weeks in China: UBS
 "Asia now has more billionaires than the US")
