Global Billionaire Fortunes Reach Record High as Influence Expands, Oxfam Warns Ahead of Davos

The combined wealth of the world’s billionaires rose sharply last year, reaching an all-time high and intensifying economic and political inequalities that pose risks to democratic systems, according to a new report by anti-poverty organisation Oxfam.
Released ahead of the World Economic Forum meeting in Davos, the report reveals that billionaire wealth grew at three times its recent pace in 2025. Oxfam estimates that the total fortunes of more than 3,000 billionaires increased by 16 percent during the year to $18.3 trillion, marking an 81 percent rise since 2020.
The surge in wealth comes against a backdrop of widespread hardship. Oxfam noted that one in four people globally struggles to access regular meals, while nearly half of the world’s population continues to live in poverty.
Drawing on academic research and data from sources such as the World Inequality Database and Forbes’ rich list, the report argues that the rapid accumulation of wealth is being mirrored by an unprecedented concentration of political power. According to Oxfam, billionaires are about 4,000 times more likely than average citizens to hold political office.
The organisation also pointed to growing media ownership by the ultra-wealthy, stating that billionaires now control more than half of the world’s major media companies. It cited significant holdings linked to figures such as Jeff Bezos, Elon Musk, Patrick Soon-Shiong, and French businessman Vincent Bolloré.
Oxfam attributed the latest rise in billionaire fortunes partly to policy decisions under U.S. President Donald Trump’s second administration, including tax reductions, protections for multinational corporations, and relaxed oversight of monopolistic practices. The rapid growth in valuations of artificial intelligence companies has further boosted returns for already wealthy investors.
“The growing divide between extreme wealth and widespread poverty is also producing a dangerous political imbalance,” said Oxfam Executive Director Amitabh Behar. “This trend is unsustainable and poses serious risks to democratic governance.”