As the World Economic Forum opens in Davos, an Oxfam report denounces the growing influence of a handful of billionaires on political and economic systems. The central role of Elon Musk and the return of Donald Trump to the White House are fueling debates on growing inequalities.
Growing inequalities
The NGO Oxfam has sounded the alarm on the emergence of an “aristocratic oligarchy” which exercises a sprawling influence on world policies. This observation comes as Donald Trump, supported by billionaires like Elon Musk, regains the reins of the United States.
According to the Oxfam report, the fortunes of billionaires increased by $2 trillion in 2024, reaching $15 trillion. Among the figures of this economic elite, Elon Musk, CEO of Tesla and SpaceX, is regularly singled out for his leading role. Musk largely financed Trump's presidential campaign and was given strategic missions by the government. These connections, according to Oxfam, highlight the entanglement of private and public interests.
The World Economic Forum, a meeting place for wealthy people and decision-makers, symbolizes these imbalances. Marlene Engelhorn, an Austrian heiress who redistributed part of her fortune, spoke out about this system which she considers unfair: “ We influence global policies simply because we were born rich. » Meanwhile, demonstrators demanded sweeping tax reforms, chanting “ Tax the rich ».
An unprecedented concentration of wealth
At the same time, criticism is mounting in the face of the extreme concentration of wealth. The four richest men in the world, all Americans from tech backgrounds, have a combined fortune of $1,000 billion. Bernie Sanders, a figure of the American left, points out that this handful of individuals hold more wealth than the poorest half of the United States.
-This dynamic, coupled with the economic policies defended by the Trump administration, should accentuate inequalities, according to Oxfam. The organization recalls that five billionaires alone could reach a fortune of 1,000 billion within ten years, while global poverty has stagnated since 1990.
Donald Trump has also appointed several billionaires to key positions, reinforcing criticism of the influence of big money in his administration. Faced with these alerts, the Davos Forum is expected at the turning point, with the planned intervention of Donald Trump by videoconference, which is already crystallizing tensions around the role of the super-rich in the future of our societies.
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