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

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.

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.

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.

Oxfam’s latest inequality report, unveiled on the eve of the World Economic Forum in Davos, projects that five billionaires, led by Elon Musk, are set to surpass $1 trillion in wealth within a decade.

Britain is and will remain a core market for Santander , its executive chair Ana Botin said at the World Economic Forum annual meeting in Davos on Tuesday.

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.

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 gathering, led by India Global Forum (IGF) founder Manoj Ladwa, included entrepreneurs engaging with Musk. The delegates also toured the Starbase facility, where they saw the successful launch and booster catch of SpaceXs Starship Flight 7.

Elon Musk sees positive trends in India-US trade, favoring an enhanced partnership. He met with Indian business leaders at SpaceX's Starbase in Texas, highlighting potential collaboration in technology and space exploration.

The Indian delegation, representing diverse sectors from technology and manufacturing to renewable energy, discussed opportunities for collaboration on global challenges. Topics included the role of technology in finance and regulation,