At the beginning of each year, the world’s corporate and political elite gather1 in the Swiss ski resort of Davos to pat each other on the back2, attend seminars on “the Fourth Industrial Revolution” — whatever that might be — and generally mull over3 the state of the world. Rarely is so much wealth to be found in so few conference rooms4. And each year, Oxfam, the global development charity, takes the opportunity to run the numbers5 on the state of global inequality. Oxfam’s findings are often eye-catching6, but this year especially so.
The wealth of the five richest people in the world, they found, has more than doubled, from $405bn7 in 2020 to $869bn in late 2023. That’s an increase of about fourteen million dollars an hour, which is…
