Billionaires' assets exceed $18 trillion, and global inequality is rapidly widening

According to a report by PANews on January 19, the latest report released by the international charity organization Oxfam revealed that the assets of the world’s billionaires have reached an all-time high of $18.3 trillion. This figure symbolizes the extreme concentration of wealth in the global economy and highlights the worsening issue of worldwide inequality.

81% Increase in Assets Over the Past 10 Years, Only Billionaires Take the Share

According to Oxfam’s data, the number of billionaires worldwide exceeded 3,000 last year, with their total assets reaching $2.5 trillion, a 16% increase year-over-year. More shockingly, in just six years since 2020, the total assets of billionaires have increased by 81%. Calling the past decade the “Golden Age of the Wealthy,” Oxfam warns that this rapid concentration of assets is sharply widening the economic gap between the general public and the ultra-rich.

Ultra-Wealthy Rapidly Expanding Political Power and Media Control

The most concerning trend pointed out in the report is that the ultra-wealthy are leveraging their wealth to expand political influence and media dominance. As exemplified by prominent entrepreneurs like Elon Musk and Jeff Bezos, the top-tier wealthy are not only accumulating personal wealth but are also strengthening their control over the economy, politics, and information dissemination. This concentration of power threatens democratic processes and poses risks of prioritizing private interests over public good.

Poverty Reduction Stagnates, Negative Chain Reactions Worsen

On the other hand, there is a serious stagnation in global poverty reduction. According to Oxfam’s survey, the global poverty level remains nearly at the 2019 level, with no signs of improvement in recent years. While the wealthy continue to grow richer, the fight against poverty remains at a standstill. This accelerating polarization creates a vicious cycle that increases social instability and deepens economic inequality.

Abuse of Power Accelerates Inequality and Deviates from the Right Path

Oxfam’s Executive Director, Gabriela Bucher, expressed strong concern about the excessive influence of the ultra-wealthy on politicians, economic systems, and the media. “This abuse of power worsens global inequality and distances humanity from the rightful goal of solving poverty,” she pointed out, accurately reflecting the fundamental problems of the current economic system.

The implications of this report are clear. If the rapid concentration of assets and power among billionaires continues, the world will tilt toward a ruling system dominated by a handful of ultra-rich individuals. The international community is now at a critical juncture where urgent responses are required to address this trend.