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

A climate justice protest at the World Economic Forum in Davos, where participating corporations were accused of fuelling crises and profiting from them. Photograph: Dpa/Alamy

The world saw a record number of billionaires created last year, with a collective wealth of $18.3tn (£13.7tn), while global efforts stalled in the fight against poverty and hunger.

Oxfam’s annual survey of global inequality has revealed that the number of billionaires surpassed 3,000 for the first time during 2025. Since 2020, their collective wealth grew by 81%, or $8.2tn, which the charity claims would be enough to eradicate global poverty 26 times over.