Billionaires are now 4,000 times more likely to hold political office than ordinary citizens, a concentration of power that is hollowing out democracies and fueling corruption and public anger, including in the Philippines, according to a new report released by Oxfam.

Billionaires, whose wealth saw record growth in 2025, are 4,000 times more likely to hold political office than ordinary citizens, according to a global Oxfam report released Tuesday, coinciding with the World Economic Forum in Davos, Switzerland.

Oxfam started as a famine relief operation and is now a global development international organization. Oxfam’s presence in the country dates back to the late 1980s, initially through local partners rather than a local office. It eventually opened a country office in Manila and now operates as part of Oxfam Pilipinas under the Oxfam International Confederation.