"Self-interest" rules the world economy? — Over $18 trillion in ultra-wealthy assets accelerate inequality

According to the latest report released by the international charity organization Oxfam on January 19, a shocking fact has been revealed. The total assets of the world’s billionaires have reached a record high of $18.3 trillion. Oxfam warns that this rapid concentration of wealth is driven by the “self-interest” of the ultra-wealthy elite and their strategy to acquire power.

81% Increase in Assets Over the Past 10 Years—Only the Ultra-Wealthy Are Celebrating a “Golden Age”

The statistics vividly illustrate the severity of wealth concentration. The report states that the number of billionaires worldwide exceeded 3,000 last year, with total assets reaching $2.5 trillion, a 16% increase year-over-year. Even more shocking is the fact that assets have increased by 81% since 2020 alone.

This decade, dubbed the “golden age,” presents a starkly contrasting reality for ordinary people. As pointed out in Oxfam’s press release, the global efforts to reduce poverty have significantly slowed down, and poverty levels continue to “remain at nearly 2019 levels.”

Deepening Impact of “Self-Interest” Through Political and Media Domination—Perpetuating Inequality

Notably, the ultra-wealthy are not only accumulating assets but are actively seeking to gain political power and media control. Oxfam cites names like Musk and Bezos, indicating that the ultra-wealthy often leverage their enormous wealth to dominate power structures.

This is not just a distant issue. The expansion of power based on the “self-interest” of the ultra-wealthy strengthens their influence within political systems and enables information manipulation through media. Oxfam’s head of the Brussels office stated, “The excessive influence of the ultra-wealthy on politicians, the economy, and the media worsens inequality and diverts us from the right path to solving poverty.”

Stagnation in Global Poverty Reduction and Accelerating Inequality—A Vicious Cycle

The result is a structure where the rich grow richer and the poor are left behind. As long as political decisions prioritize the interests of the ultra-wealthy, the welfare of ordinary citizens and poverty alleviation will take a backseat. As long as this vicious cycle continues, global inequality will continue to accelerate.

Oxfam’s warning is not merely a statistical observation but an alarm for ongoing social issues. Without addressing the economic system dominated by the “self-interest” of the ultra-wealthy, achieving a truly equal society may remain a distant dream.