Wealthy Campaigners Demand Higher Taxes on Super-Rich at Davos Summit
In a remarkable display of conscience from the upper echelons of society, hundreds of millionaires and billionaires have signed an open letter demanding significantly higher taxes on the super-rich. The statement, released to coincide with the World Economic Forum in Davos, Switzerland, argues that global oligarchs have "taken over our government", "deepened poverty" and "accelerated the breakdown of our planet."
Unprecedented Wealth Concentration Sparks Outcry
The campaign, organised by groups including Patriotic Millionaires, Millionaires for Humanity and Oxfam, highlights alarming statistics about global wealth distribution. According to their research, the richest 1% of people now own more wealth than 95% of the world's population combined. This represents a dramatic concentration of resources that campaigners describe as "beyond comprehension" and "a stark indictment" of current economic systems.
"The super-rich are being given complete free rein," the letter states, arguing that often unelected figures with extreme wealth have placed society on what they term an "obscene trajectory." The document continues: "A handful of global oligarchs with extreme wealth have bought up our democracies; taken over our governments; gagged the freedom of our media; placed a stranglehold on technology and innovation; deepened poverty and social exclusion; and accelerated the breakdown of our planet."
High-Profile Signatories and Political Context
The statement has been endorsed by prominent figures including Oscar-nominated actor Mark Ruffalo and musician Brian Eno, lending celebrity weight to the economic argument. Their intervention comes as more than 3,000 people, including a record 60 world leaders, gather in the Swiss Alpine town for the annual Davos conference to discuss global business and politics.
The campaign's timing is particularly significant given the political landscape. US President Donald Trump's attendance has drawn attention due to his administration's policies and his status as a billionaire who has assembled what Forbes describes as the wealthiest cabinet in American history, with a combined worth of $7.5 billion. The president has also enjoyed support from Elon Musk, the world's richest man, who oversaw cost-cutting measures in the early days of Trump's second term.
The 'Time to Win' Campaign's Core Demands
Organised under the banner "Time to Win," the campaign delivers a simple message to Davos attendees: the wealthiest must pay more. "We want our democracies back. We want our communities back. We want our future back," the letter declares. "In 2026, we must do more than hope for a future we want. We must win it."
Amitabh Behar, executive director of Oxfam International, emphasised the urgency: "Last year the rise in billionaire wealth was unprecedented. It is beyond comprehension that the richest 1% now own three times more than the world's total public wealth combined. Governments must implement taxes on the super-rich now and prioritise reducing inequality. The world cannot continue on this obscene trajectory."
Historical Context and Future Demands
The letter reflects on the fifty-five years since the World Economic Forum first met, noting that while humanity has made remarkable progress in technology, medicine and communication, this has been accompanied by "decades of inequality, environmental destruction, and wasted opportunity." The wealth gap between the super-rich and everyone else continues to expand daily, affecting neighbourhoods, nations and, most significantly, future generations.
Campaigners argue that extreme wealth has led to extreme control, with a small minority gambling with humanity's future for their own gain. Their solution is straightforward: "Stop squandering the time we have—tax the super rich." The letter concludes with a powerful appeal: "Tax us and make sure the next fifty years meet the promise of progress for everyone."
This extraordinary intervention from within the wealthiest circles represents a significant challenge to current economic orthodoxy and adds considerable weight to calls for wealth redistribution through taxation.
