US Edition400 Millionaires Urge Higher Taxes on Ultra-Wealthy
Nearly 400 millionaires from 24 countries urge higher taxes on the ultra-wealthy to curb political influence and address inequality, with 77% seeing extreme wealth as a threat to democracy.
- This week, nearly 400 millionaires from 24 countries signed an open letter urging Davos leaders to tax the super-rich, coordinated by Patriotic Millionaires, Millionaires for Humanity, and Oxfam International.
- Oxfam International found the richest 1% now own three times public wealth, and last year billionaires topped more than 3,000, with a $435 trillion gap by 2024 projected to near $900 trillion.
- Polling on behalf of Patriotic Millionaires found 77% believe the ultrawealthy buy political influence, 82% support donation limits, and 65% back higher taxes to fund public services.
- Signatories include Mark Ruffalo, Abigail Disney and Brian Eno; Ruffalo linked wealth to threats to democracy, and Business Insider tracked at least 157 private jets near Davos as Trump warned it ‘would be very disruptive’.
- Signatories said they want security, communities and democracies back and argued taxing wealthy people—including themselves—is part of the solution, framing it as a duty for elected representatives at Davos.
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In an open letter, they attack billionaires for amassing ever-increasing wealth, which they use to gain ever-increasing political influence.
The letter, signed this year by personalities such as actor and director Mark Ruffalo, affirms that extreme wealth pollutes political life, feeds social exclusion and contributes to the climate emergency.
Nearly 400 millionaires and billionaires across 24 countries are demanding Davos leaders to tax them more: ‘Tax us. Tax the super rich.’
As the world’s wealthiest touch down in Davos for the World Economic Forum, hundreds of the ultra-rich—including the Disney heirs and millionaire real estate developer Jeffrey Gural—call on leaders to end the “control” of global oligarchs with taxes.
Hundreds of Millionaires Call for Higher Taxes on Super-Rich
Hundreds of people who've already made it are asking governments to make them pay more. In an open letter timed to the World Economic Forum in Davos, close to 400 millionaires and billionaires from two dozen countries urged world leaders to hike taxes on the ultra-wealthy, arguing extreme fortunes are...
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