Oxfam Report Highlights How Billionaires Rig Politics
Oxfam’s latest global inequality report, released during the World Economic Forum in Davos on January 19, reveals how billionaires use their extreme wealth to keep profiteering and maintain an infrastructure of sympathetic politicians, media and bureaucracies in place.
Resisting the Rule of the Rich. Protecting freedom from billionaire power found that, globally, billionaire wealth rose by more than 16% last year — reaching a record $18.3 trillion.
One of the report’s more alarming statistics is that, last year, “billionaire wealth increased three times faster than the average annual rate over the previous five years”.