Billionaires' wealth hits new peak amid rising poverty, Oxfam says

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00:00The world's billionaires reached a record level of wealth in 2025, adding $2.5 trillion to their coffers.

00:09The NGO Oxfam released its annual report Monday,

00:13warning of widening global inequality and increased political and social control by the super-rich.

00:20This income polarization applies to France as well.

00:23Oxfam says France's 53 billionaires are now wealthier than 32 million citizens combined,

00:31nearly half the country's population.

00:33Meanwhile, more than 11 million people in France are living in poverty, a record number.

00:39Inheritance plays a large role in this gap.

00:42If children who survive are included,

00:45more than 300,000 euros can ultimately be allocated to each of them without any taxation.

00:50Today in France, wealth is taxed far less than labor, and that really raises questions.

00:56One out of two French people receive no inheritance.

00:59It's a huge factor of inequality in France.

01:02Oxfam released the report to coincide with the start of the World Economic Forum in Davos, Switzerland,

01:08where many billionaires gather.

01:10Another finding denounced by the charity,

01:12the effective tax rate of the richest 0.1 percent is falling.

01:17As a result, a billionaire pays proportionally less tax than a nurse.

01:22Oxfam calls for increased taxation on the super-rich,

01:25with the money redirected to public purposes.

01:29In France, though, a proposed minimum tax of 2 percent on fortunes above 100 million euros,

01:35called the Zucman tax, was rejected from the 2026 finance bill.

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