Hundreds Of Millionaires And Billionaires Pen Open Letter For Higher Taxers On Worlds Wealthiest
Nearly 400 millionaires and billionaires from 24 countries have called on global leaders to increase taxes on the world’s wealthiest individuals. The call to action comes from growing concerns that the globe’s richest people are buying political influence.
In an open letter released in time to coincide with the World Economic Forum in Davos, global leaders who would be in attendance at the event were called upon to close the large and widening gap between the mega-rich and the rest of the world.
The letter was signed by notable figures such as actor and film-maker Mark Ruffalo, musician Brian Eno, and philanthropist Abigail Disney. It stated that extreme wealth is polluting politics, according to reports, and is driving social exclusion while further fueling the climate emergency.
“A handful of global oligarchs with extreme wealth have bought up our democracies; taken over our governments; gagged the freedom of our media; placed a stranglehold on technology and innovation; deepened poverty and social exclusion; and accelerated the breakdown of our planet.”
“What we treasure, rich and poor alike, is being eaten away by those intent on growing the gulf between their vast power and everyone else,” the letter read.
“We all know this. When even millionaires, like us, recognize that extreme wealth has cost everyone else everything else, there can be no doubt that society is dangerously teetering off the edge of a precipice.”
Forbes reported that after being re-elected as president last year, Donald Trump assembled the richest cabinet in US history, with an estimated joining worth of $7.5 billion as of August 2025.
The Patriotic Millionaires group, who campaign for higher taxes on the mega-rich, conducted a poll that found that 77% of millionaires from G20 countries believe that highly wealthy individuals buy political influence.
The survey itself was taken by 3,900 people in G20 countries with more than $1 million in assets excluding their homes. It found that three-fifths believe Trump has had an overall negative impact on global economic stability.
Over 60% of those surveyed also expressed their concern that extreme wealth was a threat to democracy, the Guardian reports.
Two-thirds also supported higher taxes on the wealthy to further invest in public services with only 17% opposing.
Oxfam, a development charity, reported this week that in 2025, a record number of billionaires were created, bringing the global total to over 3,000 for the first time ever.
Amitabh Behar, the executive director of Oxfam International stated that “last year the rise in billionaire wealth was unprecedented.”
“The super-rich are being given complete free rein. It is beyond comprehension that the richest 1% now own three times more than the world’s total public wealth combined.”
“It’s a stark indictment that illustrates just how nonsensical the gulf now is between oligarchs and the rest of humanity. Governments must implement taxes on the super-rich now and prioritize reducing inequality. The world cannot continue on this obscene trajectory.”
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at eric.mastrota@thenationaldigest.com.




