economy
January 19, 2026
Billionaires have ‘outsized’ political influence
Billionaires' wealth has risen sharply to a record high of $18.3 trillion — with the super-rich seeking power "for their own gain," according to Oxfam.
TL;DR
- Billionaires' wealth reached a record $18.3 trillion, with fortunes increasing by 16% in the last year.
- Billionaires' wealth has surged by 81% since 2020.
- Poverty reduction has slowed, with levels similar to 2019.
- The super-rich use their wealth to gain political power and media ownership.
- Oxfam calls for governments to tax the super-rich, reduce their power, and establish stronger boundaries between politics and wealth.
- Rich nations are cutting aid, potentially leading to additional deaths by 2030.
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