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

Leaders from around the globe are currently gathering in Davos, Switzerland, for the World Economic Forum's annual multi-day meeting as newly-inaugurated President Trump is beginning his second term.

China's Vice-Premier Ding Xuexiang at the 55th annual World Economic Forum meeting in Davos, Switzerland, January 21, 2025. REUTERS/Yves Herman China does not pursue a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

A speech by the U.N. chief, economic growth potential in places like China and Russia, the challenges of artificial intelligence and leaders from Spain to Malaysia are set to headline the agenda at the World Economic Forum’s annual event in Davos.

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.

German Chancellor Olaf Scholz on Tuesday vowed to "defend free trade as the basis of our prosperity", a day after US President Donald Trump threatened to impose tariffs and taxes on trade partners.

Ukrainian President Volodymyr Zelenskyy speaks with CNBC's Andrew Ross Sorkin at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. The World Economic Forum officially began on Monday, but it's Tuesday when the event really kicks off.

André Hoffmann sits more than 400 places below Elon Musk in Bloomberg's Billionaires Index. His net worth is estimated at just under $7 billion (CH

German Chancellor Olaf Scholz said on Tuesday he does not support freedom of speech when it is used for extreme-right views, a day after a hand gesture by U.S. billionaire Elon Musk caused uproar during Donald Trump's inauguration festivities. Everyone can say what he wants, even if he is a billionaire.

The dichotomy between the gatherings of rich and powerful at Donald Trump’s inauguration and at the World Economic Forum in Davos was stark as the world woke up to a new reality under Trump.

Speaking at the World Economic Forum, Ukraine's President Volodymyr Zelensky calls for Europe to have it's own Iron Dome system. He said: 'Europe needs its own version of the Iron Dome, something that can deal with any kind of threat.