Billionaires have ‘outsized’ political influence — and they’re richer than ever, says Oxfam

Billionaires' wealthiness has risen sharply to a grounds precocious of $18.3 trillion — with the super-rich seeking powerfulness "for their ain gain," according to a study by the planetary foundation Oxfam released Monday.

The fig of billionaires reached much than 3,000 past year, and collectively they saw their fortunes summation by 16%, oregon $2.5 trillion, the study said.

Added to this, billionaires' wealthiness has surged by 81% since 2020, the foundation said, describing the past arsenic "a bully decennary for billionaires."

And portion the affluent person go richer, poorness simplification has slowed, with levels "broadly wherever they were successful 2019," according to a quality merchandise from the charity.

Oxfam besides said the super-rich often usage their wealthiness to unafraid governmental powerfulness arsenic good arsenic media ownership, noting billionaire Elon Musk's engagement successful the U.S. medication astatine the commencement of 2025, Jeff Bezos's ownership of The Washington Post and billionaire Vincent Bollore's acquisition of French quality tract CNews.

"The outsized power that the super-rich person implicit our politicians, economies and media has deepened inequality and led america acold disconnected way connected tackling poverty," said Oxfam's Executive Director Amitabh Behar successful the charity's report, titled "Resisting the Rule of the Rich: Protecting Freedom from Billionaire Power."

The foundation has released inequality reports to coincide with the World Economic Forum's yearly gathering successful Davos, Switzerland, each twelvemonth since 2014. Last year, Oxfam predicted the satellite would spot astatine slightest five trillionaires wrong a decade and called for planetary taxation policies to guarantee the affluent wage their just share.

This year, "Davos," which starts connected Monday, volition big astir 65 heads of authorities and 850 CEOs, with U.S. President Donald Trump acceptable to code delegates connected Wednesday.

"The widening spread betwixt the affluent and the remainder is ... creating a governmental shortage that is highly unsafe and unsustainable," Behar said.

"Governments are making incorrect choices to pander to the elite and support wealthiness portion repressing people's rights and choler astatine however truthful galore of their lives are becoming unaffordable and unbearable," Behar said.  

In 2025, Trump's "big beauteous bill" introduced respective taxation breaks for the wealthy, with those earning $1 million-plus seeing astir a 3% income boost.

Meanwhile, astir Americans tin nary longer spend a "minimal prime of life," according to a 2023 study by the Ludwig Institute for Shared Economic Prosperity. About 10% of Americans lived successful poorness successful 2024 according to U.S. census information published successful September.

Oxfam called connected governments to marque nationalist inequality simplification plans, taxation the super-rich to trim their powerfulness and prioritize stronger "firewalls" betwixt authorities and wealthiness arsenic good arsenic supply stronger extortion for state of expression.

The study comes arsenic much than 2,500 radical person been killed successful Iran since protests against a long-running economical situation began past month. Last twelvemonth saw much than 140 "significant" anti-government protests successful 68 countries, Oxfam said, which authorities "typically met with violence."

"Being economically mediocre creates hunger. Being politically mediocre creates anger," Behar said. 

Rich nations are "cutting assistance further and faster than before," Oxfam's study stated. These cuts, including the closure of USAID, could pb to an further 14 cardinal deaths by 2030, the foundation said.

- CNBC's April Roach contributed to this report.