According to Oxfam, from March 2020, the wealth of billionaires increased by 81%, confirming their dominance in the world of wealth. Elon Musk, as estimated by the organization, earns in four seconds an amount comparable to the average annual income of a person on the planet. At the same time, as emphasized in the report, almost half of the world's population lives in poverty, possessing only 0.52% of global wealth, while 43.8% of wealth is concentrated in the hands of one percent of the ultra-rich.
Charlotte Becker, head of Oxfam Germany, noted: “We are living in the era of billionaires — and this has extremely negative effects on the world.” She expressed concern about how the economic power of the wealthy is transforming into political influence that undermines democracy. Becker also cited U.S. President Donald Trump as an example, whose policies, oriented towards the interests of the rich, contribute to increasing inequality.
According to Oxfam, Germany ranks fourth in the world in the number of billionaires, with their number increasing by a third in 2025, reaching 172 individuals. At the same time, according to the organization, an average German billionaire earns in one and a half hours an amount equal to the average annual income in a country where one-fifth of the population lives in poverty.
Oxfam once again called for stricter taxation of the ultra-rich both in Germany and globally. The organization proposed introducing a billionaire tax, the proceeds from which could be directed towards a more equitable distribution of resources, combating climate change, and protecting democratic values.
