Overview
- Hundreds of millionaires and billionaires from 24 countries released an open letter at the World Economic Forum urging systematic taxation of extreme wealth, saying concentrated fortunes are distorting politics.
- Notable signatories include Mark Ruffalo, Brian Eno and Abigail Disney, and the appeal is part of the international Time to Win campaign backed by groups such as Patriotic Millionaires, Millionaires for Humanity and Oxfam.
- A survey of 3,900 millionaires in G20 nations reported that 77% believe the very wealthy buy political influence, with majorities supporting higher taxes to fund public services.
- Oxfam’s latest analysis highlights accelerating concentration at the top, including findings that the twelve richest people hold more wealth than the poorer half of the world and that billionaire fortunes have surged in recent years.
- Policy ideas under debate range from inheritance‑tax reform to a minimum annual levy on ultralarge fortunes, including Zucman’s 2% tax above €100 million, though officials and parties—such as Germany’s CDU/CSU—signal strong resistance and stress the need for international coordination.