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inequality

Davos protest

Oxfam Warns Record $18.3 Trillion in Billionaire Wealth 'Highly Dangerous' to Democracy

"Governments are making wrong choices to pander to the elite and defend wealth while repressing people’s rights and anger at how so many of their lives are becoming unaffordable and unbearable."

Jake Johnson
Jan 19, 2026

A report released Monday as global elites convened in Davos, Switzerland for the annual World Economic Forum found that the collective wealth of the world's billionaires hit a record $18.3 trillion last year, a marker of supercharged inequality that is threatening democracy across the globe.

Oxfam International's report, Resisting the Rule of the Rich: Protecting Freedom From Billionaire Power, found that the total number of billionaires worldwide surpassed 3,000 for the first time in history in 2025. Billionaire wealth rose by $2.5 trillion, over 16%, last year. That sum, Oxfam observed, would be enough to eradicate extreme poverty 26 times over.

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inequality
billionaire-wealth
Americans Celebrate Martin Luther King Jr. Day

The Trump Administration Should Listen to MLK's Wisdom

Instead of eradicating structures of inequality, our current leadership is implementing policies that destroy government jobs and dismantle agencies responsible for preventing predatory economic practices.

Dedrick Asante-Muhammad
Jan 19, 2026

Dr. Martin Luther King, Jr.’s words from his “Beyond Vietnam” speech still ring true.

“When machines and computers, profit motives, and property rights are considered more important than people,” he warned, “the giant triplets of racism, extreme materialism, and militarism are incapable of being conquered.”

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trump administration
martin-luther-king-jr
Jensen Huang

Jensen Huang, World's 8th Richest Man, 'Perfectly Fine' With California Billionaire Tax

If the proposed tax is enacted, Huang would face a roughly $8 billion tax bill—a tiny fraction of his $165 billion net worth.

Jake Johnson
Jan 07, 2026

Jensen Huang, CEO of the tech behemoth Nvidia and the eighth-richest man in the world, said Tuesday that he is "perfectly fine" with a grassroots push in California to impose a one-time wealth tax on the state's billionaire residents.

In an interview with Bloomberg, Huang said that "we chose to live in Silicon Valley, and whatever taxes, I guess, they would like to apply, so be it"—a nonchalant response that diverges from the hysteria expressed by other members of his class in response to the proposed ballot initiative.

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billionaires
billionaire-tax
Zohran Mamdani delivers inaugural address.

'We Will Govern Expansively and Audaciously': Zohran Mamdani's Inaugural Address

To those who insist that the era of big government is over, hear me when I say this—no longer will City Hall hesitate to use its power to improve New Yorkers’ lives.

Zohran Mamdani
Jan 02, 2026

New York City Mayor Zohran Mamdani prepared these remarks to deliver at his inauguration on January 1, 2026.

My fellow New Yorkers—today begins a new era.

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affordability
zohran-mamdani

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