Oxfam warns: 4 additional billionaires per week, a very worrying trend

The NGO Oxfam unveiled its latest report at the opening of the World Economic Forum in Davos. The observation is striking: in 2024, four people will become billionaires every week, an unprecedented rate which illustrates the dizzying growth of global inequalities. These shocking figures reveal much more than individual enrichment: they point to a broken redistribution of wealth and inequalities which are taking lasting root, including in developed countries like France.

Unprecedented wealth, exploding inequalities

By 2024, the overall wealth of billionaires will jump by $2 trillion, an average increase of $5.7 billion per day. This enrichment is not based solely on innovation or entrepreneurship, but 60% on inheritances or established monopolies, according to Oxfam. The NGO goes further by accusing these “ultra-rich” of perpetuating a dynamic of wealth extraction, often to the detriment of the most vulnerable countries.

At the same time, almost half of the world's population still lives below the poverty line, unable to cover their basic needs. In France, this contrast is also glaring: while billionaires continue to accumulate colossal fortunes, certain cities are fighting against endemic poverty. According to this recent ranking of the poorest cities in France, municipalities like Denain or Roubaix are emblematic of growing social inequalities.

The economic and political impact of such a concentration of wealth

The growing concentration of wealth goes hand in hand with an increase in the power of billionaires to influence economic and political decisions. The NGO Oxfam warns against a “new aristocracy” which is shaping the global economy to its advantage. In the United States, the return of Donald Trump to the White House, supported by figures like Elon Musk, symbolizes this growing complicity between money and politics.

In France, the consequences are just as striking. While some billionaires use their resources to influence the media and public policies, cities like Grigny or Mulhouse struggle to offer prospects to their population. The Oxfam report calls for urgent reflection on the current economic model, in particular through fairer taxation of large fortunes and inheritances.

The solutions recommended by Oxfam

To reduce these glaring inequalities, Oxfam advocates a series of concrete measures:

• Taxing accumulated wealth : tax inheritances and income from dividends more heavily.
• Fight against tax havens : strengthen international cooperation to track down tax evasion.
• Capping CEO salaries : limit excessive remuneration in large companies.
• Investing in poor cities : provide massive support to areas in difficulty to break cycles of poverty.

These proposals aim to create a more inclusive economy, where wealth is not concentrated in the hands of a tiny minority.

The mirror of France: from billionaires to forgotten cities

While French billionaires increase their fortunes by several million euros per day, some cities continue to sink into poverty. Denain, Roubaix and Saint-Ouen illustrate this economic and social divide. The report on the poorest cities in France paints a striking picture of these inequalities, where residents struggle to find a job, access quality education or even decent housing.

Faced with these findings, it is essential to reestablish economic justice. Not only to fight poverty, but also to prevent these inequalities from continuing to undermine the foundations of our societies.

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