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.

As the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion dollars every two days. For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty […]

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today. ‘The Inequality Virus’ is being published on the opening day of the World […]