By Micah Jonah
January 19, 2026
International aid group Oxfam has warned that the world’s richest individuals are not only accumulating unprecedented wealth but are also tightening their grip on political power, media ownership and public influence, deepening global inequality and weakening democratic institutions.
In its annual inequality report released on Sunday, Oxfam said billionaire wealth grew by about 2.5 trillion dollars in 2025, an amount nearly equal to the combined wealth of the poorest half of the world’s population, estimated at over four billion people. The organisation said this widening gap is fuelling social unrest and political instability in many regions.
The report was published as world leaders, top business executives gathered in Davos, Switzerland, for the World Economic Forum annual meeting, an event that regularly attracts hundreds of billionaires alongside senior government officials. Oxfam said the concentration of wealth among those attending such forums highlights the imbalance between economic power and public accountability.
Oxfam noted that 2025 marked the first time the number of billionaires worldwide crossed 3,000, while the world’s richest individual was reported to have a personal fortune exceeding half a trillion dollars. The charity also estimated that billionaires are about 4,000 times more likely to hold political office than ordinary citizens.
Citing global surveys, Oxfam said nearly half of respondents across dozens of countries believe wealthy individuals routinely influence or buy elections, raising concerns about the integrity of democratic systems. The group warned that unchecked political influence by the ultra rich could undermine public trust in government and weaken efforts to address poverty and climate change.
Oxfam further argued that ownership of major media and social media platforms by billionaires is shaping public discourse, limiting balanced debate. It cited cases where wealthy individuals control major newspapers, television networks and digital platforms, giving them the ability to influence political narratives and policy priorities.
The Organization also linked rising inequality to growing protests around the world, saying more than 140 major anti government demonstrations were recorded across dozens of countries last year, many of which were met with force by security agencies. Oxfam said people are increasingly frustrated by high living costs, unemployment and shrinking access to basic services.
For developing countries like Nigeria, analysts say the findings underline the importance of protecting democratic institutions, regulating political financing, ensuring economic growth benefits wider society, not just the elites. Civil society groups in Nigeria have long called for stronger tax systems, social protection programmes and transparency in governance to reduce inequality and social tension.
Oxfam urged governments to focus on policies that expand access to healthcare, education and fair taxation, warning that continued concentration of wealth and power could create long term social, political instability across both developed and developing nations.
