Oxfam Report: 12 Billionaires Richer Than Poorest 50% Globally, Inequality Soars

• Oxfam's latest report reveals the world's 12 richest billionaires now hold more wealth than the poorest half of the global population.
• Billionaires' total wealth surged by 16.2% to $18.3 trillion in 2025, driven by policies favoring industrialists and investors.
• The number of billionaires worldwide has exceeded 3,000, with Elon Musk leading the list.
• Oxfam warns that concentrated wealth is translating into political power, influencing media and democratic processes.
• The report criticizes governments, including the US, for failing to address rising inequality and opting out of global tax agreements.

Why It Matters: Global economic inequality is worsening, with a few billionaires accumulating vast wealth and political influence.