Surging billionaire wealth a political threat, Oxfam warns as Davos opensListen to this articleProtesters gather in Davos on Sunday ahead of the opening of the World Economic Forum. "Actions of the Trump presidency including the championing of deregulation and undermining agreements to increase corporate taxation have benefited the richest around the world," Oxfam said. Increasingly this money is buying political power, Oxfam said, pointing in particular to tycoons' buying newspapers and other media, such as Musk's takeover of X or the purchase of The Washington Post by Amazon's Jeff Bezos. "In country after country, the super-rich have not only accumulated more wealth than could ever be spent, but have also used this wealth to secure the political power to shape the rules that define our economies and govern nations," it said. "Such power gives billionaires a grasp over all our futures, undermining political freedom and eroding the rights of the many."

Source: Bangkok Post January 19, 2026 02:33 UTC