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Billionaires Gain $698B as Low-Income Americans Struggle

11/3/2025

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Summary

Story summary

Wealth of the ten richest Americans rose by $698 billion since U.S. President Donald Trump returned to office.
Oxfam America criticizes Trump's tax cuts, especially the 'One Big Beautiful Bill,' for benefiting billionaires while raising taxes on low-income households.
Oxfam America notes that over 40% of Americans are low-income.
The wealthiest 1% have gained 101 times more wealth than the median since 1989, and the report calls for policy reforms.

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Story summary

Wealth of the ten richest Americans rose by $698 billion since U.S. President Donald Trump returned to office.
Oxfam America criticizes Trump's tax cuts, especially the 'One Big Beautiful Bill,' for benefiting billionaires while raising taxes on low-income households.
Oxfam America notes that over 40% of Americans are low-income.
The wealthiest 1% have gained 101 times more wealth than the median since 1989, and the report calls for policy reforms.