Billionaire wealth jumped three times faster in 2025 than in the previous five years to its highest peak ever, new figures have has shown, sparking warnings of dangerous political inequality.
Figures published by the charity Oxfam show that in the UK, the richest 56 people now hold more wealth than 27 million combined.
Calling on the government to impose a wealth tax, the report shows that the average UK billionaire will gain more wealth than the value of the UK’s average annual salary in less time than it takes to watch a premier league football match.
It comes as billionaire wealth globally has now hit its highest level in history, at $18.3 trillion.
Billionaire wealth jumped by over 16 per cent in 2025, three times faster than the average from the previous five years.
The new report, ‘Resisting the Rule of the Rich: Protecting Freedom from Billionaire Power’, warns that extreme wealth is becoming increasingly linked to political power, estimating that billionaires are around 4,000 times more likely to hold political office than ordinary citizens.
The total number of billionaires in the world has now reached 3,000 for the first time ever, while 1 in 4 people globally do not regularly have enough to eat, and nearly half of the world’s population lives in poverty, the report shows.
It estimates that the collective global wealth of billionaires last year increased by $2.5 trillion – which would be enough to eradicate extreme poverty 26 times over.
The figures highlight a “dangerous trend”, the report says. “As extreme wealth grows rapidly, political rights and civil liberties are declining worldwide.
“Tens of millions of people, feeling trapped in poverty and powerless to influence the system, are taking to the streets but they are met with authoritarian measures.
“Oxfam argues that political leaders now face a stark and urgent choice: favour the wealthy few or defend the rights and freedoms of the many.”
Sonya Sultan, chief influencing officer at the charity said: “Most people do not want a world dominated by billionaires.
“Rising protests globally shows people are rejecting a system rigged in favour of a few. We’re seeing widespread anger against the rigging of elections and economies to hand power and riches to the few.
“From the youth-led protests in Kenya, Bangladesh, Nepal and Sri Lanka, these voices are demanding change and we must listen to them and take action. In the UK now a clear majority of people favour a wealth tax.
“Deep economic, political and social inequalities matter to people.
“Political leaders need to listen and respond accordingly: stop protecting the wealth and power of a few, at the expense of the opportunities and rights of the rest of the population. Remember who you are meant to represent and serve.”
Oxfam’s report recommends the government introduce a wealth tax on assets above £10m in order to tackle “extreme inequality”.
It also calls for the government to clamp down on lobbying, campaign finance and political influence in order to protect democracy, as well as calling on ministers to do more to defend the rights of ordinary citizens and civil society organisations so they can “organise, protest and be heard without fear”.
The government has so far resisted growing calls for a wealth tax, with left-wing Labour MPs and Green Party leader Zack Polanski saying the imposition of a tax on wealth could clamp down on inequality, plug holes in the public finances and fix Britain’s creaking public services.
But there are fears that such a levy could drive talent and investment away from the UK economy.