Oxfam International, an anti-poverty group, called billionaire Elon Musk's backing of US President-elect Donald Trump "the jewel in the crown of the global oligarchies". "It's the economic system that we've created where the billionaires are now pretty much being able to shape economic policies," it added. Billionaires' wealth grew three times faster in 2024 than the year before, Oxfam reported.