Billionaires have more money and political power than ever, Oxfam says

Charity says superrich 4,000 times more likely to hold political power than others, and own all social media companies, in report released to coincide with the opening of the WEF’s annual meeting in Davos.Published On 19 Jan 2026International aid organisation Oxfam has released its annual report on rising inequality, expressing concern that billionaires are not only wealthier than ever but are also cementing their control over politics, media and social media.The report released on Sunday also underscored the widening chasm between the haves and have-nots in a world beset by conflicts and multiplying protests.Recommended Stories list of 4 itemslist 1 of 4Gen Z are demanding schools and hospitals, not superyachts and helicopterslist 2 of 4World leaders, rights groups react to COP30 climate deallist 3 of 4Which aid groups is Israel banning from Gaza now – and what will it mean?list 4 of 4Oxfam, Doctors Without Borders slam Israel’s Gaza banend of listAccording to Oxfam’s analysis, the collective wealth of billionaires surged by $2.5 trillion in 2025, almost equivalent to the total wealth held by the bottom half of humanity, or 4.1 billion people.Last year was also the first time that there were more than 3,000 billionaires in the world, and the first time that the world’s richest person, Elon Musk, had more than half a trillion dollars.The charity’s annual report on rising inequality was released to coincide with the opening of the World Economic Forum’s annual meeting in Davos, Switzerland, a meeting which hosts close to 1,000 of the world’s richest people together with political leaders, alongside a handful of invited activists each year.The theme of this year’s meeting is A Spirit of Dialogue. However, Oxfam argued in its annual report that the superrich are increasingly controlling the means of communication, including both traditional and newer forms of media.It cited examples of Jeff Bezos, the billionaire owner of Amazon, buying The Washington Post, Musk acquiring Twitter/X, Patrick Soon-Shiong taking over the Los Angeles Times newspaper and far-right billionaire Vincent Bollore owning France’s CNews.