Billionaires' wealth hits new peak as their clout grows, Oxfam says
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Oxfam’s study, which draws on academic research and data sources ranging from the World Inequality Database to Forbes' rich list, argues that the wealth boom is being matched by a dramatic concentration of political clout, with billionaires 4,000 times more likely than ordinary citizens to hold political office.
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"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's executive director Amitabh Behar said.
Oxfam urged governments to adopt national inequality reduction plans, impose higher taxes on extreme wealth and strengthen firewalls between money and politics, including curbs on lobbying and campaign financing.
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Behar warned that governments are "making wrong choices to pander to the elite," pointing to aid cuts and the rollback of civil liberties.
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https://www.reuters.com/business/davos/billionaires-wealth-hits-new-peak-their-clout-grows-oxfam-says-2026-01-19/