Billionaire Boom Is Fuelling Inequality

Trickle-down economics is a myth. Instead of fostering prosperity, extreme wealth accumulation fuels inequality, destabilises economies, and undermines democracy. In 2024, the wealth of Europe’s 440 billionaires grew by nearly €400 million each day, with a new billionaire emerging almost weekly. This contrasts with the widespread concern of Europeans struggling to meet the cost of living. But this is a global issue: while the world may soon have five trillionaires, global poverty rates remain stagnant.