Oxfam warns of ‘dangerous inequality’ as billionaire wealth jumps to highest peak ever
Billionaires’ wealth is set to reach its highest ever peak in 2025, three times faster than in the previous five years, new figures show, sparking warnings of dangerous political inequality.
Figures published by charity Oxfam show that the 56 richest people in the UK now have a combined fortune of more than £27 million.
The report, which calls on the government to impose a wealth tax, shows that the average British billionaire would amass more wealth than the value of the UK’s average annual salary in less time than it takes to watch a premiership football match.
This comes at a time when the wealth of global billionaires has reached the highest level in history at $18.3 trillion.
Billionaires’ wealth increased by more than 16 percent in 2025, three times faster than the average of the previous five years.
new report, ‘Resisting the Rule of the Rich: Defending Freedom from Billionaire Power’warns that extreme wealth is increasingly linked to political power, and estimates that billionaires are nearly 4,000 times more likely to hold political office than ordinary citizens.
The report shows that the total number of billionaires in the world has reached 3,000 for the first time, 1 in 4 people worldwide do not regularly have enough to eat, and almost half of the world’s population lives in poverty.
Last year, billionaires’ collective global wealth is estimated to have increased by $2.5 trillion; This would be enough to eliminate extreme poverty by 26 times.
The figures highlight a “dangerous trend,” according to the report. “As extreme wealth soars, political rights and civil liberties are declining around the world.
“Tens of millions of people, feeling trapped in poverty and powerless to influence the system, take to the streets but face authoritarian measures.
“Oxfam argues that political leaders now face a stark and urgent choice: support the wealthy minority or defend the rights and freedoms of the majority.”
Sonya Sultan, the charity’s chief influencer, said: “Most people don’t want a world dominated by billionaires.
“Increasing protests around the world show that people are rejecting a system that is rigged to favor the few. We are seeing widespread anger over the rigging of elections and economies to give power and wealth to the few.
“In youth-led protests in Kenya, Bangladesh, Nepal and Sri Lanka, these voices are demanding change and we must listen and act. In the UK, a clear majority of people are now in favor of a wealth tax.
“Deep economic, political and social inequalities matter to people.
“Political leaders need to listen and respond accordingly: Stop protecting the wealth and power of the few at the expense of the opportunities and rights of the rest of the population. Remember who you are supposed to represent and serve.”
Oxfam’s report recommends the government introduce a wealth tax on assets over £10 million to tackle “extreme inequality”.
It also calls on the government to restrict lobbying, campaign financing and political influence to protect democracy, while calling on ministers to do more to defend the rights of ordinary citizens and civil society organizations so they can “organise, protest and make their voices heard without fear”.
The government has so far resisted calls for an increased wealth tax, with left-wing Labor MPs and Green Party leader Zack Polanski saying a wealth tax could reduce inequality, plug holes in public finances and fix Britain’s creaking public services.
But there are fears that such a tax could drive talent and investment away from the UK economy.
