Irish billionaire wealth stood at €50.2bn at the end of last year, €13bn up on the previous year, said Oxfam. Photograph: Getty ImagesThe number of Irish billionaires rose from nine to 11 last year and their combined wealth increased by more than a third to just over €50 billion, according to Oxfam Ireland. Oxfam said the State’s billionaires saw their wealth increase by €35.6 million every day in 2024 and that 66 per cent of this wealth stemmed from cronyism, monopolistic sources or inheritance. [ Has Fingal County Council found a solution to our housing crisis?Opens in new window ]In its Takers Not Makers report, Oxfam calculated that billionaire wealth globally surged by $2 trillion in 2024, three times faster than the year before. “We are witnessing the rise of a modern oligarchy, where wealth is used to build and consolidate political power and vice versa.

Source: The Irish Times January 21, 2025 02:36 UTC