the new Oxfam report titled ‘Resisting the Rule of the Rich: Defending Freedom Against Billionaire Power‘ released in Davos points out, is not an accident – it is by design, as governments across the world choose to defend wealth over rights and freedoms. Not only has billionaire wealth grown, so has their political power – a fact most easily summarised when one notes that “Billionaire fortunes have grown at a rate three times faster than the average annual rate in the previous five years since the election of Donald Trump in November 2024.”
“The reduction in poverty has largely ground to a halt, with poverty rising again in Africa. In 2022, nearly half of the world population (48%), or 3.83 billion people, lived in poverty,” the report notes.
by Jahnavi Sen
23/01/2026