‘Brazen’ political influence of rich laid bare as wealth of billionaires reaches $18.3tn, says Oxfam

The Guardian - World NewsCenter-LeftEN 3 min read 100% complete by Kaamil AhmedJanuary 19, 2026 at 01:01 AM

AI Summary

medium article 3 min

Oxfam's annual inequality survey reveals a record number of billionaires, exceeding 3,000 in 2023, with their collective wealth reaching $18.3 trillion. Since 2020, billionaire wealth has increased by 81%, enough to potentially eradicate global poverty multiple times. The report claims governments are prioritizing the interests of the wealthy, evidenced by austerity measures impacting education and healthcare in countries like Kenya, while corporations receive tax exemptions. This trend fuels inequality, leading to protests against corruption and high living costs, often met with government repression. Oxfam highlights the increasing political influence of the rich globally, enabling them to shape policies and economies, exacerbating the gap between the wealthy and the poor.

Key Entities & Roles

Key Player Opposition Context

Latin America 30% Asia 30% Africa 30% Nairobi 40% Mathare ×250% Kenya 60% Wanjira Wanjiru ×270% Max Lawson ×270% Oxfam 90%

Keywords

inequality 100% billionaires wealth 90% political influence 80% poverty 70% wealth redistribution 60% social justice 50% austerity measures 50% oxfam 40%