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flag G20 billionaires gained $2.2T in 2024—enough to lift 3.8B out of poverty, Oxfam says ahead of summit.

flag Billionaires in G20 nations earned $2.2 trillion in 2024, enough to lift 3.8 billion people out of poverty, Oxfam reported ahead of the G20 summit in South Africa. flag The charity urged the group to create an international inequality panel like the IPCC and support fair taxation of the wealthy. flag It criticized the U.S. for missing the summit and said 3.4 billion people live in countries paying more in debt interest than on health and education. flag The G20, representing 85% of global GDP, aims to advance issues affecting developing nations before the U.S. takes over the presidency in 2026.

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