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

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

China's Vice-Premier Ding Xuexiang at the 55th annual World Economic Forum meeting in Davos, Switzerland, January 21, 2025. REUTERS/Yves Herman China does not pursue a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

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.

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.

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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.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland, Wednesday. "The guy is our Einstein," the JPMorgan chief said. "I'd like to be helpful to him and his companies as much as we can.

electricity generation needed fast-evolving AI last year

I would prefer to stay out of politics,” Elon Musk told his followers in 2021, on the platform then known as Twitter. Plenty has changed since then. The world’s richest man appears to have a new goal: upending Europe.

JPMorgan Chase CEO Jamie Dimon and Tesla CEO Elon Musk have resolved their past differences with a reconciliation at the World Economic Forum, where Dimon expressed admiration for Musk's enterprises.