Total Billionaire Wealth Reaches $18.3 Trillion
Top 12 Hold More Wealth Than Bottom 50% Combined
Last year, the total wealth of billionaires worldwide surpassed $18 trillion, reaching an all-time high. At the same time, warnings have been raised that the political and economic influence of the wealthy is expanding, while the rights and participation of the poor are being further diminished.
Protesters wearing masks depicting Elon Musk (center) and US Vice President JD Vance (right) attend a demonstration against the World Economic Forum (WEF) annual meeting held in Davos, Switzerland, on the 18th. Photo by AP
Billionaire Wealth Soars, Widening Inequality
On January 18 (local time), the international relief and development organization Oxfam released its annual inequality report to coincide with the opening of the World Economic Forum (WEF) Annual Meeting in Davos. According to the report, the total wealth of billionaires worldwide increased by 16.2% from the previous year to $18.3 trillion (approximately 27,000 trillion won) in 2025.
The report states that, for the first time ever, the number of so-called "super-rich" individuals with assets exceeding $1 billion has surpassed 3,000. The combined wealth of the top 12 individuals, including Elon Musk, CEO of Tesla, is greater than the total assets of the bottom 50% of the global population, which amounts to about 4 billion people.
Surge in Ultra-Wealthy Fortunes Accelerated After Trump Took Office
In particular, since Donald Trump was elected President of the United States in November 2024, the rate of increase in billionaire wealth has been nearly three times faster than the average annual growth rate of the previous five years. The report notes that in October 2025, Musk's personal wealth exceeded $500 billion (about 737.5 trillion won), setting a world record. However, a quarter of the global population still suffers from hunger.
Oxfam identified the policy direction of the Trump administration as a key factor behind the growth of ultra-wealthy fortunes. The organization analyzed that deregulation and the weakening of international consensus on corporate tax increases have worked in favor of the wealthiest individuals. The report also pointed out that President Trump himself, a real estate mogul, is a billionaire, and that "his administration is also filled with billionaires."
Accumulation of Wealth Expands into Political Power
Concerns have also been raised that massive wealth is being converted into political power. Examples cited include Musk's acquisition of X (formerly Twitter) and Amazon founder Jeff Bezos's purchase of The Washington Post, which illustrate the growing media influence of billionaires. In fact, more than half of the world's largest media companies are owned by billionaires, and six billionaires operate nine out of the top ten global social media companies.
The report estimates that billionaires are more than 4,000 times more likely than ordinary citizens to enter public office, highlighting how economic inequality is translating into political inequality. The poor are easily excluded from policy-making processes, which limits their ability to assert their rights and determine their futures.
The report emphasized, "Not only have the super-rich accumulated more wealth than they could ever spend in a lifetime, but they have also gained the political power to change economic rules and principles of national governance in their favor. As a result, the freedom and rights of the majority of citizens are being infringed upon."
Meanwhile, President Trump is expected to attend this year's Davos Forum, leading the largest-ever U.S. delegation. In response to news of his attendance, AFP reported that about 300 protesters gathered in Davos, Switzerland, the previous day.
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