As the world grapples with the relentless march of global inequality, a new report by Oxfam has laid bare the “brazen” political influence wielded by the super-rich. The charity’s annual survey has revealed that the number of billionaires surpassed 3,000 for the first time in 2025, with their collective wealth reaching a staggering $18.3 trillion – a figure that could eradicate global poverty 26 times over.
The past year has seen a surge in youth-led uprisings against inequality across Africa, Asia, and Latin America, as governments have prioritised the interests of the wealthy elite over the needs of their citizens. From austerity measures that have slashed funding for public services to the harsh crackdown on protests over corruption and high living costs, the report paints a damning picture of how the economic elite have cemented their grip on power.
“Governments worldwide are making the wrong choice; choosing to defend wealth, not freedom,” said Max Lawson, co-author of the report. “Choosing the rule of the rich. Choosing to repress their people’s anger at how life is becoming unaffordable and unbearable, rather than redistributing wealth from the richest to the rest.”
In Kenya, social activist Wanjira Wanjiru described the stark contrast between the opulent golf club in Nairobi’s Mathare slum, where residents struggle to access clean water and sanitation, and the government’s willingness to grant tax exemptions to businesses while imposing austerity measures on education and healthcare.
“The economically rich are becoming politically rich the world over, able to shape and influence politics, societies and economies,” Lawson said. “In the past, rich people were perhaps more coy about pulling the levers of power, but it’s becoming more and more brazen, this kind of marriage between money and politics.”
The report also highlights the outsized political influence wielded by billionaires, who are 4,000 times more likely than an ordinary person to hold political office. With more than half of the world’s media companies and nine of the top 10 social media platforms owned by billionaires, the research suggests that the wealthy are increasingly able to shape public discourse and sway policy decisions in their favour.
As the world grapples with the devastating consequences of growing inequality, the Oxfam report serves as a stark warning that the global economic system is increasingly rigged in favour of the rich. With protests and uprisings erupting across the developing world, the report’s authors remain cautiously optimistic that a backlash against this trend is brewing, as younger generations rise up to challenge the influence of the wealthy elite.
“When people are oppressed, they always rebel,” said Wanjiru. “We are getting to a point where we really can’t take it any more.”