According to Oxfam, G20 billionaires increased their combined wealth by $2.2 trillion in just one year, rising from $13.4 trillion in October 2024 to $15.6 trillion in October 2025. The amount gained in a single year alone would be enough to lift 3.8 billion people out of poverty, whose annual needs are estimated at $1.65 trillion.
The summit featured findings from the first-ever G20 analysis of global inequality, led by Nobel Laureate Professor Joseph Stiglitz. The report identifies an “inequality emergency,” revealing that since 2000 the richest 1% captured 41 cents of every new Dollar of wealth, while the bottom half of humanity received just one cent. The study warns that rising inequality fuels economic hardship, political polarisation, and threatens democratic stability worldwide.
Oxfam has welcomed the report’s recommendation to establish an International Panel on Inequality, modelled on the Intergovernmental Panel on Climate Change (IPCC), to provide scientific oversight and drive urgent policy action.
South African President Cyril Ramaphosa expressed support for the initiative, urging other G20 nations to back the proposal.
Oxfam International Executive Director Amitabh Behar said: “Inequality is a deliberate policy choice. Despite record wealth at the top, public resources are stagnating or declining, and debt distress is growing. A panel on inequality would be a crucial step toward reversing this trend.”
The advocacy group also highlighted the ongoing debt crisis, noting that more than half of low-income countries are in or at high risk of debt distress, with 3.4 billion people living in nations spending more on interest repayments than on education or health.
Oxfam criticised slow and limited debt relief measures, warning that millions are effectively being denied basic development opportunities.
The organisation called on G20 leaders to implement fair taxation of billionaires’ wealth, act decisively on debt relief, and commit to policies that reduce inequality, protect public services, and promote sustainable development globally.
Oxfam stressed that the decisions taken at the summit could determine whether global inequality continues to spiral or whether concrete measures are taken to ensure prosperity and opportunity for all.
–ChannelAfrica–
