Oxfam warns soaring billionaire wealth to $18.3 trillion is driving political inequality, as Davos opens amid protests over tax breaks, corporate power and growing threats to democracy worldwide today now.
Global billionaires’ combined wealth surged to a record 18.3 trillion dollars in 2025, Oxfam reported Monday, warning that the growing concentration of wealth is fueling political inequality. Oxfam is an international confederation of 21 independent charitable organizations working together in more than 90 countries to fight poverty, inequality and social injustice.
The humanitarian NGO said the surge, a 16.2 percent increase in the first year of US President Donald Trump’s second term, was driven by policies favoring deregulation and the weakening of corporate tax agreements. The world now has more than 3,000 billionaires, with the top 12, led by Tesla and SpaceX chief Elon Musk, holding more wealth than the poorest half of humanity, more than four billion people.
“The widening gap between the rich and the rest is creating a political deficit that is highly dangerous and unsustainable,” said Oxfam Executive Director Amitabh Behar.
Oxfam highlighted how billionaires are translating wealth into power. Examples include Musk’s takeover of X and Amazon founder Jeff Bezos’s purchase of The Washington Post, giving them unprecedented influence over politics and public opinion.
The report also criticized the US decision to exempt multinationals from an internationally agreed 15 percent minimum corporate tax, saying it exemplifies the global disregard for growing inequality.
President Trump is attending Davos with one of the largest US delegations ever, where he is expected to dominate discussions under the official agenda, “A Spirit of Dialogue.” His presence has already sparked protests, with around 300 demonstrators wearing masks of Musk and US Vice President JD Vance while holding fistfuls of euros.
Oxfam warned that unchecked wealth and influence among billionaires pose a serious threat to political freedom and economic stability worldwide.
Key figures from the report include global billionaire wealth of 18.3 trillion dollars, an increase of 16.2 percent in 2025, a total of more than 3,000 billionaires and the top 12 holding more wealth than the poorest four billion people.
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.”
As the World Economic Forum kicks off, Oxfam’s report and youth voices underline the urgent need to address the gap between extreme wealth and democracy. Sohanur Rahman, executive coordinator of YouthNet Global, called on billionaire elites arriving by private jet to pay more taxes and take responsibility for inequality and the climate crisis.
“When billionaires control so much wealth and influence, it’s not just an economic issue. It becomes a question of democracy itself. Tax the super rich. Policies favoring the ultra rich deepen inequality and leave millions of ordinary people without a voice,” he said.
