The world will have its first trillionaire in just a decade while poverty will persist for at least two centuries, a new report has found.The five wealthiest men more than doubled their wealth from $US405 billion to $US869 billion ($415 billion to $1.3 trillion) since 2020 - an increase growing at a rate of $US14 million per hour.
Tesla boss Elon Musk, who seems most posed to reach the $US1 trillion benchmark, leads the five with a boastful $US222 billion net worth.
Flanking him is Moët Hennessy Louis Vuitton chief executive Bernard Arnault, Amazon boss Jeff Bezos, Oracle co-founder Larry Ellison and Facebook owner Mark Zuckerberg.
Their wealth grew three times faster than global inflation in the last three years.At the same time, almost five billion people have been made poorer due to the effects of the COVID-19 pandemic, war and inflation.
And the wages of about 800 million workers failed to keep up with inflation, accumulating to a loss of $US1.5 trillion in the past two years.
If current trends continue, the world will have its first trillionaire within a decade but poverty won't be eradicated for another 229 years, income inequality have grown, as the cost of living crisis spirals globally.
