What's happened
Oxfam's latest report reveals global billionaire fortunes hit a record $18.3 trillion in 2025, rising 16%. The surge is linked to policies under Donald Trump, increasing wealth concentration and political influence of the ultra-rich, while global poverty remains high. The report urges tax reforms and regulation.
What's behind the headline?
The wealth surge of 16.2% in 2025, driven by policies under Donald Trump, underscores a dangerous shift towards economic and political oligarchy. The report reveals that the top 12 billionaires possess more wealth than the poorest half of humanity, illustrating an unprecedented concentration of wealth. This accumulation is not merely economic but translates into political influence, with billionaires being 4,000 times more likely to hold office or sway policy decisions. The ownership of over half of the world's major media by billionaires further consolidates their power, shaping narratives and policy agendas that favor the wealthy. The timing of this report, coinciding with the Davos forum and Trump's participation, highlights the ongoing debate about the legitimacy of elite-driven governance. The rise in wealth inequality fuels protests and social unrest, yet governments continue to prioritize tax cuts and deregulation, exacerbating the divide. The forecast is clear: unless substantial reforms are enacted—such as higher taxes on extreme wealth and stricter regulation of political influence—the gap will widen, threatening democratic stability and social cohesion.
What the papers say
The articles from The Japan Times, The Independent, The New Arab, France 24, and The Guardian collectively emphasize the global scale of wealth concentration, linking it directly to policies under Donald Trump and the influence of billionaires like Elon Musk and Jeff Bezos. While all sources agree on the record-breaking increase in billionaire wealth and its implications, some highlight the political influence more explicitly, such as The Guardian's focus on the marriage of money and politics and the protests in Kenya and Nepal. Others, like The Independent, stress the potential for policy reforms like wealth taxes, though noting resistance from governments. The New Arab and France 24 focus on the broader geopolitical implications, including the role of US policies and the influence of billionaires in media ownership. Overall, the consensus underscores a troubling trend of wealth and power centralization, with calls for urgent policy action to curb inequality and restore democratic accountability.
How we got here
The report builds on previous analyses of global inequality, highlighting the rapid growth of billionaire wealth since 2020. It emphasizes the influence of policies favoring deregulation, tax cuts, and corporate immunity, which have disproportionately benefited the ultra-rich. The rise in billionaire numbers and their political clout reflects a broader trend of wealth and power consolidation, often at the expense of social equity and democratic processes.
Go deeper
More on these topics
-
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..
-
Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
-
Elon Reeve Musk FRS is an engineer, industrial designer, technology entrepreneur and philanthropist. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-foun
-
Jeffrey Preston Bezos is an American internet entrepreneur, industrialist, media proprietor, and investor. He is best known as the founder, CEO, and president of the multi-national technology company Amazon.