By 2034, one of the world’s richest men – Elon Musk, Jeff Bezos, Larry Ellison, Warren Buffett or Bernard Arnault – could be the first trillionaire.

A recent report from Oxfam International, an organization focused on the alleviation of global poverty, found that these five wealthy men are 114 percent richer than they were in 2020. This “supercharged surge in extreme wealth” has only widened the wealth gap with nearly five billion people having been made poorer since the pandemic, according to the report.

“The United States is home to the most billionaires on Earth, including Elon Musk and Jeff Bezos, names that have become synonymous with obscene wealth,” Oxfam American President and CEO Abby Maxman said in a statement.

Currently, Elon Musk, the CEO of Tesla and owner of X (Twitter), is considered the world’s richest person, with a net worth of $226.6 billion.

While America holds the most billionaires and ranks first as the richest nation – in terms of gross domestic product – still 37.9 million Americans live in poverty making below $12,880. People across the world are working more hours and picking up side gigs as the wages of nearly 800 million workers globally have remained the same for two years despite inflation, Oxfam reports.

According to Authority Hacker, an educational website marketing group, inflation and financial woes like low wages, high debt and minimal savings continue to contribute to Americans having multiple side hustles and younger generations creating their own ways of making money in the future.

If nothing changes, the Oxfam data shows that poverty won’t be eradicated for another 229 years, warning of an impending “decade of division.”

“We must stop normalizing extreme inequality and take deliberate action to prevent the ultra-wealthy and the corporations they control from tightening their stranglehold on our politics and economy,” Maxman said in a statement.

Following the Oxfam report, a few of the world’s wealthiest people wrote an open letter to political leaders at the World Economic Forum in Davos, Switzerland. Nearly 250 billionaires and millionaires entitled the letter, “Proud to Pay More.” The five wealthiest men did not sign this letter.

Who are these rich men and how much do they make?

Elon Musk: $226.6 billion

Elon Musk has a net worth of $226.6 billion and not only owns Tesla and X (Twitter) but also rocket ship company SpaceX, among other ventures.

Bernard Arnault: $175.1 billion

According to Forbes, Bernard Arnault and his family hold a fortune of $175.1 billion. Arnault is a French businessman who has served as CEO of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group and is now a majority shareholder in the company since 1989. He is also on the board of Groupe Arnault S.E., which is his family’s holding company and investment firm. Arnault is the only non-U.S. citizen on the Oxfam list.

Jeff Bezos: $173.6 billion

Jeff Bezos has a net worth of $173.6 billion, according to Forbes. Bezos founded Amazon in 1994 and his wealth rapidly grew as the company exploded into an e-commerce giant. He is now the executive chair of Amazon and the company’s biggest shareholder.

Larry Ellison: $134.9 billion

Larry Ellison currently has a personal fortune of $134.9 billion, according to Forbes. He co-founded Oracle Corporation, a software and database management giant in 1977. He is now chief technology officer and chairman of the board.

Warren Buffett: $119.5 billion

Warren Buffett is the world’s fifth richest person with a net worth of $119.2 billion. He runs Berkshire Hathaway, a holding conglomerate that owns dozens of companies across sectors like insurance, manufacturing, utilities, transportation and retail.