As the global elite gathers for the World Economic Forum, a new Oxfam report warns of "highly dangerous and unsustainable” political consequences driven by the widening gap between the rich and the rest.
Billionaires’ wealth reached new heights with the number of billionaires surpassing 3,000 for the first time and their combined wealth now higher than at any time in history, according to the Nairobi-based charity, which linked the surge to policies under US President Donald Trump and soaring valuations of artificial intelligence companies.
The fortunes of the ultra-rich grew three times faster in the last year than the average of the previous five years, jumping 16% in 2025 to $18.3 trillion. Meanwhile, Tesla and SpaceX chief Elon Musk became the first individual to amass a net worth of $500 billion.
The gains came as billions of people worldwide struggle to eat regularly and live in poverty. According to the NGO, the top 12 richest now hold more wealth than the poorest half of humanity, or more than four billion people.
