Billionaire wealth hits record high, Oxfam warns of threat to democracy

Global billionaire wealth surged at three times its recent pace last year to reach a record high, deepening economic and political divides that threaten democratic stability, anti-poverty group Oxfam said on Monday.

In a report released ahead of the World Economic Forum in Davos, Oxfam said the combined wealth of the world’s billionaires rose 16% in 2025 to $18.3 trillion, extending an 81% increase since 2020. The surge came despite one in four people worldwide struggling to eat regularly and nearly half of the global population living in poverty.

The report, based on data from sources including the World Inequality Database and Forbes’ rich list, said the rapid accumulation of wealth is being matched by an alarming concentration of political power. Billionaires are now 4,000 times more likely than ordinary citizens to hold political office, it said.

Oxfam linked the latest wealth boom to policies under US President Donald Trump’s second administration, citing tax cuts, reduced scrutiny of monopolies and protections for multinational corporations. It also pointed to soaring valuations of artificial intelligence companies, which have delivered major windfall gains to already wealthy investors.

“The widening gap between the rich and the rest is at the same time creating a political deficit that is highly dangerous and unsustainable,” Oxfam Executive Director Amitabh Behar said.

The charity urged governments to introduce national plans to reduce inequality, impose higher taxes on extreme wealth and strengthen barriers between money and politics, including tougher rules on lobbying and campaign financing. While wealth taxes currently exist in only a few countries such as Norway, similar proposals have been debated in Britain, France and Italy.

Read More: PAF contingent arrives in Saudi Arabia for multinational air combat exercise

According to Oxfam, the $2.5 trillion added to billionaire fortunes last year is roughly equal to the total wealth held by the poorest 4.1 billion people. The global billionaire population surpassed 3,000 for the first time, with Tesla and SpaceX chief Elon Musk becoming the first individual to exceed $500 billion in net worth.

The report also warned of growing influence by ultra-wealthy individuals over traditional and digital media, saying billionaires now own more than half of the world’s major media firms.