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Millionaires Demand Action on Wealth Inequality at Davos

1/22/2026

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Wealthy Urge Taxation

At Davos, nearly 400 millionaires and billionaires released an open letter urging leaders to address wealth inequality through taxation.
The letter, part of the "Time to Win" campaign, criticizes ultra-rich for worsening poverty and undermining democracy.
Celebrities Mark Ruffalo (actor) and Billie Eilish (singer) have called for greater philanthropy among the wealthy.
Despite The Giving Pledge, many billionaires have not met charitable commitments; top 20% own 71% of U.S. wealth.

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Oxfam Warns Inequality

Oxfam's new report shows Australia's 48 billionaires hold more wealth than the bottom 40%.
Globally, the number of billionaires has surpassed 3,000, with $27.7 trillion in wealth.
The report, released at Davos, urges a net wealth tax on the top 0.5%.
Oxfam estimates a 5% tax on Australian billionaires could raise $17.4 billion for social programs.
Jennifer Tierney, CEO of Oxfam, warns that wealth inequality threatens democracy.

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Wealthy Urge Taxation

At Davos, nearly 400 millionaires and billionaires released an open letter urging leaders to address wealth inequality through taxation.
The letter, part of the "Time to Win" campaign, criticizes ultra-rich for worsening poverty and undermining democracy.
Celebrities Mark Ruffalo (actor) and Billie Eilish (singer) have called for greater philanthropy among the wealthy.
Despite The Giving Pledge, many billionaires have not met charitable commitments; top 20% own 71% of U.S. wealth.

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