By: The Trek News Desk
Global inequality is deepening as billionaires continue to amass record levels of wealth while strengthening their influence over politics, media, and digital platforms, according to Oxfam’s latest annual inequality report. The international aid organisation has cautioned that this growing concentration of power is widening the gap between the rich and the rest of the world.
Released on Sunday, the report revealed that in 2025 alone, the combined wealth of billionaires rose by approximately $2.5 trillion, an amount nearly equal to the total assets owned by the poorest half of the global population, around 4.1 billion people. Oxfam noted that the number of billionaires worldwide crossed 3,000 for the first time last year, while tech entrepreneur Elon Musk became the first individual to surpass a net worth of $500 billion.
The findings were made public alongside the opening of the World Economic Forum’s annual meeting in Davos, Switzerland. The event brings together nearly 1,000 of the world’s wealthiest individuals, top corporate executives, and political leaders each year. Although the theme of this year’s gathering is “A Spirit of Dialogue,” Oxfam argues that genuine inclusivity remains largely absent.
According to the report, the super-rich are increasingly gaining control over communication channels. It highlighted high-profile examples such as Amazon founder Jeff Bezos’ ownership of The Washington Post, Elon Musk’s takeover of Twitter, now known as X, Patrick Soon-Shiong’s control of the Los Angeles Times, and French billionaire Vincent Bolloré’s influence over the news network CNews.
Oxfam International Executive Director Amitabh Behar stated that the disproportionate power held by billionaires over political systems, economies, and media landscapes is undermining global efforts to reduce poverty. He urged governments to prioritise public needs, including access to quality healthcare, fair taxation, and meaningful action on climate change.
The report further estimated that billionaires are nearly 4,000 times more likely to occupy political office than ordinary citizens. Citing data from the World Values Survey conducted across 66 countries, Oxfam said nearly half of respondents believe that wealthy elites routinely influence or manipulate elections in their nations.
Oxfam also pointed to rising public unrest, noting that 142 major anti-government protests were recorded across 68 countries last year. Many of these demonstrations, the organisation said, were met with state violence. The group warned that policies favouring the wealthy are making everyday life increasingly expensive and intolerable for large sections of society.
According to the World Economic Forum, this year’s Davos meeting is being attended by around 850 leading CEOs and chairpersons, along with prominent political figures such as US President Donald Trump, Canadian Prime Minister Mark Carney, and Chinese Vice Premier He Lifeng.
Beyond advocacy, Oxfam continues to operate as a humanitarian organisation, providing aid in crisis-hit regions worldwide. The group has repeatedly raised concerns over the humanitarian situation in Gaza, warning that restrictions imposed by Israel have contributed to an escalating crisis in the region.
Source: News Agencies
