Report: Global billionaires' wealth surpasses $18 trillion, reaching a new high, with expanding power exacerbating inequality

PANews January 19 News, Oxfam, an international charity organization, released a report on Monday showing that the wealth of global billionaires has soared to a record $18.3 trillion. The report points out that super-rich individuals are seeking power and control for “their own interests.” The report states that last year, the number of billionaires worldwide surpassed 3,000, with their total wealth increasing by 16% year-on-year, adding $2.5 trillion. Oxfam data shows that since 2020, billionaire wealth has surged by 81%, and describes the past decade as the “golden age of the wealthy.” The organization noted in a press release that while the rich are getting richer, the global poverty reduction process has significantly slowed down, with poverty levels “roughly remaining at the 2019 level.” Oxfam specifically pointed out that super-rich individuals often use their wealth to gain political power and media control, such as Elon Musk and Jeff Bezos. Oxfam Executive Director Beasley stated, “The excessive influence of super-rich individuals on politicians, the economy, and the media has exacerbated inequality and diverted us from the right track to solving poverty.”