Nearly 400 millionaires and billionaires from 24 countries have made a rare public appeal. They want world leaders to tax the ultra rich more. They say wealth has become too concentrated. And it is harming everyone.
The appeal was shared just as the World Economic Forum 2026 began in Davos. The timing was not random. Global leaders and top business figures are all gathered there.
The group behind the letter includes wealthy people from Europe, the Americas, Asia and Africa. Many of them say the gap between the rich and the rest of society has grown too wide. They believe this gap is now dangerous.
The letter warns that extreme wealth is changing how politics works. It says democracy is being weakened. Inequality is rising fast. Global instability is growing.
Some well known names signed the letter. Actor Mark Ruffalo is one of them. Musician Brian Eno is another. Disney heiress Abigail Disney also signed it. According to reports, the group believes excessive private wealth is eroding public trust.
The letter uses strong words. It says extreme wealth is polluting politics. It claims a small group of ultra rich people now control too much power. It says they influence governments. They silence media voices. They dominate technology. They increase poverty. They also worsen the climate crisis.
The message is blunt. The signatories say that what both rich and poor value is slowly being destroyed. And it is being done by those who want even more power and money.
One line in the letter stands out. It says that when even millionaires admit extreme wealth has cost society everything else, the danger is real. They warn that the world is close to a breaking point.
The letter also targets Davos itself. The writers say the summit has become a symbol of inequality. Powerful people meet there while public anger keeps rising. Living costs are high. Trust in democracy is falling.
The concerns are not just emotional. New survey data supports them. A poll of 3900 millionaires across G20 countries found that 77 percent believe the ultra wealthy buy political influence.
The same survey shows strong support for change. More than 60 percent see extreme wealth as a threat to democracy. About two thirds support higher taxes on the super rich to fund public services. Only 17 percent oppose such taxes.
The poll also found that three fifths of respondents believe Donald Trump has negatively affected global economic stability.
Wealth at the top is also becoming more visible in politics. According to Forbes, Donald Trump formed the richest cabinet in US history after his re election. The combined net worth was estimated at $7.5 billion.
Critics say this only strengthens the idea that governments now serve elite financial interests more than public needs.
At the same time, the number of billionaires keeps rising. Oxfam says the global billionaire count has crossed 3000 for the first time. Last year saw a record jump in billionaire wealth.
Oxfam International director Amitabh Behar called the situation shocking. He said the richest 1 percent now own three times more than all public wealth combined. He described the gap as absurd and dangerous.
He urged governments to act now. He said taxing the super rich is no longer optional. Reducing inequality must be a priority. Because the world cannot keep moving in this direction.
