The vast fortunes of the world's billionaires have surged to a new record high, with their political influence growing at an alarming rate, according to a stark warning from Oxfam issued as global elites gather in Davos.
A Surge in Wealth Amidst Global Hardship
In a report timed for the opening of the World Economic Forum on Monday, 19 January 2026, the anti-poverty charity revealed that global billionaire wealth jumped by 16% in 2025 to a staggering $18.3 trillion. This dramatic increase extends an 81% rise since 2020 and occurred at three times the recent pace.
This accumulation of extreme wealth stands in shocking contrast to global living standards. Oxfam notes the boom happened even as one in four people worldwide struggle to eat regularly and nearly half the global population lives in poverty.
The Nairobi-based group calculates that the $2.5 trillion added to billionaires' fortunes last year is roughly equal to the total wealth held by the poorest 4.1 billion people.
The Concentration of Economic and Political Power
Oxfam's study, which draws on academic research and data from the World Inequality Database and Forbes, argues this wealth boom is matched by a dangerous concentration of political clout. The report states that billionaires are now 4,000 times more likely than ordinary citizens to hold political office.
The charity links the latest surge partly to policies under U.S. President Donald Trump's second administration, which has cut taxes, shielded multinational corporations, and eased monopoly scrutiny. Furthermore, soaring valuations of artificial intelligence companies have delivered windfall gains to already-wealthy investors.
The world's billionaire population also surpassed 3,000 for the first time last year, with Tesla and SpaceX chief Elon Musk becoming the first individual to exceed $500 billion in net worth.
Call for Action: Taxes and Firewalls
Oxfam's executive director, Amitabh Behar, warned that the widening gap is "creating a political deficit that is highly dangerous and unsustainable." He accused governments of "making wrong choices to pander to the elite," pointing to aid cuts and the rollback of civil liberties.
The report also highlights the expanding grip of ultra-wealthy figures over public discourse, noting that billionaires now own more than half of the world's major media firms. It cites holdings by figures like Jeff Bezos, Elon Musk, Patrick Soon-Shiong, and France's Vincent Bolloré.
In response, Oxfam has issued an urgent call to governments. The charity urges the adoption of national inequality reduction plans and demands stronger firewalls between money and politics. Key recommendations include:
- Imposing higher taxes on extreme wealth.
- Implementing strict curbs on lobbying and campaign financing.
While wealth taxes are currently levied in only a few nations like Norway, the debate is gaining traction elsewhere, with countries from Britain to France and Italy considering similar moves. The message from Oxfam to Davos is clear: without decisive action, the concentration of wealth and power will continue to undermine democratic stability.
