What's happened
A new Oxfam report shows billionaire wealth hit a record $18.3 trillion in 2025, rising 16.2%, driven by US policies under Trump. The report links deregulation and tax cuts to increased inequality and political influence for the ultra-rich worldwide.
What's behind the headline?
The rise of billionaire wealth underpins a dangerous trend of increasing economic disparity and political power. The report emphasizes that actions like deregulation and tax cuts, championed by Trump and others, have directly benefited the ultra-rich, enabling them to amass unprecedented wealth. This concentration of wealth correlates with a decline in civil liberties and democratic accountability, as billionaires leverage media ownership and political influence to shape policies in their favor. The global increase in billionaire numbers and wealth signifies a shift where economic power translates into political dominance, threatening the foundations of democracy. The UK’s resistance to implementing a wealth tax reflects broader political hesitations, despite public support for measures that could curb inequality. The report warns that unless governments act decisively—through wealth taxes and regulation—these trends will deepen, further entrenching inequality and eroding civil rights. The upcoming Davos forum, with high-profile attendees like Trump, exemplifies how elite interests continue to influence global policy, often at the expense of the broader population. The next decade will likely see intensified protests and political unrest unless systemic reforms are enacted to rebalance economic and political power.
What the papers say
The articles from The Japan Times, The Independent, The New Arab, and France 24 all highlight the significant increase in billionaire wealth in 2025, driven by US policies under Trump. They consistently point out that deregulation and tax avoidance have benefited the ultra-rich, with the top 12 billionaires holding more wealth than half of humanity combined. The reports emphasize the growing political influence of billionaires, including media ownership and lobbying, which undermines democratic processes. While The Independent and The Japan Times focus on the UK’s resistance to a wealth tax despite public support, The New Arab and France 24 contextualize the global implications, noting protests and civil unrest linked to economic inequality. The articles collectively portray a picture of a widening wealth gap, increased political power for the ultra-rich, and the urgent need for policy reforms to address these issues.
How we got here
The report builds on years of data showing rising global inequality, with the number of billionaires reaching 3,000 for the first time. It highlights how policies favoring deregulation and tax avoidance have contributed to wealth concentration, especially in the US and UK, where billionaire fortunes now surpass the combined wealth of millions of people.
Go deeper
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Oxfam is a British-founded confederation of 21 independent non-governmental organizations (NGOs), focusing on the alleviation of global poverty, founded in 1942 and led by Oxfam International. It began as the Oxford Committee for Famine Relief in Oxford..
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