Billionaire wealth at new high, Oxfam warns of political influence ahead of Davos
The fortunes of the world’s ultra-rich have surged to a record high and now pose political threats, warns Oxfam’s annual report on billionaires released ahead of the World Economic Forum at Davos, which opens Monday.
Issued on: 19/01/2026 - RFI
Protesters, one dressed up as US President Donald Trump and another as a police officer, at the start of a demonstration against the annual meeting of the World Economy Forum in Davos, Switzerland, 18 January 2026. © Markus Schreiber/AP
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The wealth of the world’s billionaires went up 16.2 percent in 2025, the anti-poverty group said in its report released to coincide with the opening of the Davos forum, which brings together some of the world’s wealthiest people together with political leaders, CEOs, financiers, and international institutions.
Oxfam says the increase has been driven in part by policies put in place by US President Donald Trump, including tax cuts, “the championing of deregulation and undermining agreements to increase corporate taxation have benefited the richest around the world”.
It pointed to Washington's decision to exempt US multinationals from an internationally agreed minimum tax rate of 15 percent as an example of policies that ignore growing inequality.
"In country after country, the super-rich have not only accumulated more wealth than could ever be spent, but have also used this wealth to secure the political power to shape the rules that define our economies and govern nations," the report warned.
Drawing on academic research and data sources ranging from the World Inequality Database to Forbes' rich list, the report found that the world’s 3,000 billionaires are 4,000 times more likely than ordinary citizens to hold political office.
Billionaires highlight France’s complicated relationship with wealth
Oxfam highlighted what it sees as the growing influence of ultra‑wealthy business figures over traditional and digital media.
Billionaires now own more than half of the world’s major media firms, Oxfam said, citing Elon Musk’s takeover of X, Amazon's Jeff Bezos ownership of The Washington Post, and French billionaire Vincent Bolloré’s control of numerous newspapers and television stations in France, as well as his majority stake in the Vivendi media group..
Oxfam urged governments to adopt national inequality reduction plans, raise taxes on the extremely rich, and strengthen firewalls between money and politics, including tighter limits on lobbying and campaign financing.
By:RFIFollow
ADVERTISING
The wealth of the world’s billionaires went up 16.2 percent in 2025, the anti-poverty group said in its report released to coincide with the opening of the Davos forum, which brings together some of the world’s wealthiest people together with political leaders, CEOs, financiers, and international institutions.
Oxfam says the increase has been driven in part by policies put in place by US President Donald Trump, including tax cuts, “the championing of deregulation and undermining agreements to increase corporate taxation have benefited the richest around the world”.
It pointed to Washington's decision to exempt US multinationals from an internationally agreed minimum tax rate of 15 percent as an example of policies that ignore growing inequality.
"In country after country, the super-rich have not only accumulated more wealth than could ever be spent, but have also used this wealth to secure the political power to shape the rules that define our economies and govern nations," the report warned.
Drawing on academic research and data sources ranging from the World Inequality Database to Forbes' rich list, the report found that the world’s 3,000 billionaires are 4,000 times more likely than ordinary citizens to hold political office.
Billionaires highlight France’s complicated relationship with wealth
Oxfam highlighted what it sees as the growing influence of ultra‑wealthy business figures over traditional and digital media.
Billionaires now own more than half of the world’s major media firms, Oxfam said, citing Elon Musk’s takeover of X, Amazon's Jeff Bezos ownership of The Washington Post, and French billionaire Vincent Bolloré’s control of numerous newspapers and television stations in France, as well as his majority stake in the Vivendi media group..
Oxfam urged governments to adopt national inequality reduction plans, raise taxes on the extremely rich, and strengthen firewalls between money and politics, including tighter limits on lobbying and campaign financing.
Would tax hikes for the wealthiest really drive them to flee France?
Only a few countries currently have wealth taxes. In France, which replaced its wealth tax with a narrower tax on real estate assets, debate over reinstating the wider tax resurfaced during the ongoing politically contested debates over the 2026 budget.
(with newswires)
Only a few countries currently have wealth taxes. In France, which replaced its wealth tax with a narrower tax on real estate assets, debate over reinstating the wider tax resurfaced during the ongoing politically contested debates over the 2026 budget.
(with newswires)
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The world’s billionaires grew richer than ever in 2025, charity Oxfam said on Monday, warning of “highly dangerous” political consequences as elites gather at the World Economic Forum in Davos, Switzerland. It said US President Donald Trump’s policies helped boost billionaire wealth 16.2 percent to $18.3 trillion in the first year of his second term.
Issued on: 19/01/2026
By: FRANCE 24
US President Donald Trump, during his last in-person visit to the World Economic Forum in Davos, Switzerland, January 22, 2020. © JIM WATSON, AFP
The collective wealth of the planet's billionaires soared to a record level in 2025, charity Oxfam reported Monday, warning of "highly dangerous" political consequences as the global elite gathers for the World Economic Forum.
US President Donald Trump's policies in particular spurred the fortunes of the ultra-rich, which jumped 16.2 percent in the first year of his second term to $18.3 trillion, the NGO said in a report released each year ahead of the Davos forum.
"Actions of the Trump presidency including the championing of deregulation and undermining agreements to increase corporate taxation have benefited the richest around the world," Oxfam said.
The world now has more than 3,000 billionaires for the first time, it added, with the top 12 – led by Tesla and SpaceX chief Elon Musk – having "more wealth than the poorest half of humanity, or more than four billion people".
Increasingly this money is buying political power, Oxfam said, pointing in particular to tycoons' buying newspapers and other media, such as Musk's takeover of X or the purchase of The Washington Post by Amazon's Jeff Bezos.
READ MOREBezos announces restrictions on Washington Post opinion coverage
"The widening gap between the rich and the rest is at the same time creating a political deficit that is highly dangerous and unsustainable," Oxfam's executive director Amitabh Behar said.
Trump will arrive with one of the biggest US delegations ever for the Davos conference, where he is expected to dominate an agenda officially billed as "A Spirit of Dialogue".
The collective wealth of the planet's billionaires soared to a record level in 2025, charity Oxfam reported Monday, warning of "highly dangerous" political consequences as the global elite gathers for the World Economic Forum.
US President Donald Trump's policies in particular spurred the fortunes of the ultra-rich, which jumped 16.2 percent in the first year of his second term to $18.3 trillion, the NGO said in a report released each year ahead of the Davos forum.
"Actions of the Trump presidency including the championing of deregulation and undermining agreements to increase corporate taxation have benefited the richest around the world," Oxfam said.
The world now has more than 3,000 billionaires for the first time, it added, with the top 12 – led by Tesla and SpaceX chief Elon Musk – having "more wealth than the poorest half of humanity, or more than four billion people".
Increasingly this money is buying political power, Oxfam said, pointing in particular to tycoons' buying newspapers and other media, such as Musk's takeover of X or the purchase of The Washington Post by Amazon's Jeff Bezos.
READ MOREBezos announces restrictions on Washington Post opinion coverage
"The widening gap between the rich and the rest is at the same time creating a political deficit that is highly dangerous and unsustainable," Oxfam's executive director Amitabh Behar said.
Trump will arrive with one of the biggest US delegations ever for the Davos conference, where he is expected to dominate an agenda officially billed as "A Spirit of Dialogue".
© France 24
06:56
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Davos protests
Trump's participation galvanised around 300 protesters who arrived in Davos on Sunday, many wearing masks of Musk or US Vice President JD Vance and holding fistfuls of euros.
Nathalie Ruoss of the Swiss Young Socialists said the most powerful people in the world make decisions at Davos that impact everyone.
"And they do it with no democratic legitimacy," she said, calling it "unacceptable" that the WEF welcomed "fascists like Donald Trump".
For Oxfam, Washington's decision to exempt US multinationals from an internationally agreed minimum tax rate of 15 percent was a stark example of ignoring growing inequality.
"In country after country, the super-rich have not only accumulated more wealth than could ever be spent, but have also used this wealth to secure the political power to shape the rules that define our economies and govern nations," it said.
"Such power gives billionaires a grasp over all our futures, undermining political freedom and eroding the rights of the many."
(FRANCE 24 with AFP)
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