A new report by the charity Oxfam has revealed that billionaire wealth has jumped to its highest level ever, reaching a staggering $18.3 trillion globally. This surge in wealth, which grew three times faster in 2025 than the previous five years, has sparked warnings of a “dangerous” rise in political inequality.
The figures show that in the UK, the richest 56 people now hold more wealth than 27 million combined. Oxfam is calling on the government to introduce a wealth tax on assets above £10 million in order to tackle this extreme inequality.
The total number of billionaires worldwide has now reached 3,000 for the first time, while one in four people globally do not have enough to eat regularly, and nearly half the world’s population lives in poverty. Oxfam estimates that the collective wealth increase of billionaires last year could have eradicated extreme poverty 26 times over.
Sonya Sultan, the chief influencing officer at Oxfam, warned that “most people do not want a world dominated by billionaires.” She pointed to growing protests globally, from Kenya to Bangladesh, as people reject a “system rigged in favour of a few.”
The report argues that extreme wealth is becoming increasingly linked to political power, with billionaires estimated to be around 4,000 times more likely to hold political office than ordinary citizens. Oxfam is calling for the government to clamp down on lobbying, campaign finance, and political influence to protect democracy.
With a clear majority of people in the UK now favouring a wealth tax, political leaders are facing a stark choice, according to Oxfam. They must decide whether to “favour the wealthy few or defend the rights and freedoms of the many.”
