The world’s richest people are wealthier than ever. The combined net worth of global billionaires surged by 16 percent last year, reaching a record €15.75 trillion ($18.3 trillion), according to
new research by Oxfam Novib released ahead of the World Economic Forum (WEF) in Davos, Switzerland.
More than 3,000 billionaires now control as much wealth as 3.6 billion people combined. Oxfam Novib says the growing concentration of riches highlights a deepening divide between extreme wealth and widespread poverty. While fortunes at the top continue to grow, one in four people worldwide regularly faces hunger, and nearly half of the global population lives in poverty.
Dutch wealth gap mirrors global trend
The Netherlands reflects this global pattern of inequality. The total wealth of the country’s 500 richest individuals rose to €273 billion last year, Oxfam Novib reported. That amount equals roughly twice the Netherlands’ annual healthcare budget and five times its annual spending on education.
Despite representing just 0.003 percent of the population, the richest 500 Dutch citizens hold about 9 percent of all household wealth. Together, they own four times as much as the poorest half of the population combined.
Concerns over political influence
Beyond the economic divide, Oxfam Novib warns that the growing power of the super-rich is undermining democratic systems. According to the organization, wealthy elites increasingly influence politics, media, and economic policy through campaign donations, lobbying, and media ownership.
In the Netherlands, just 11 members of the Quote 500 were responsible for 20 percent of all political party donations during the most recent election campaign. Of those contributions, 86 percent went to center or right-wing parties.
“The influence of the super-rich is growing rapidly,” said Michiel Servaes, director of Oxfam Novib Netherlands. “They are richer than ever and are using their billionaire power more openly and shamelessly. What once happened behind closed doors is now visible to everyone.”
Servaes pointed to the prominence of U.S. tech billionaires around former President Donald Trump, as well as Dutch business groups openly backing right-wing political movements, as examples of this shift.
Davos spotlight on inequality
The findings are released as world leaders, business executives, academics, and civil society representatives gather in Davos for the annual WEF meeting, running from January 19 to January 23.
Caretaker Prime Minister Dick Schoof will attend the summit alongside VVD ministers David van Weel (Foreign Affairs) and Ruben Brekelmans (Defense). While cabinet members are scheduled to participate in several panel discussions, the gathering is widely seen as a key networking forum for global political and business elites.
More than 2,000 participants are expected to attend this year’s conference, where economic inequality, political stability, and global security are likely to dominate the agenda. Photo by Alps, Wikimedia commons.