New 'oligarchy' under fire as elites descend on Davos

Global charity Oxfam said in a report that Trump's election win and tax-cut plans are a boon to billionaires, whose combined wealth already grew by another $2 trillion last year to $15 trillion.

British Phil White of Patriotic Millionaires holds a slogan which reads "Tax the Rich" during a demonstration against the World Economic Forum (WEF) ahead of the WEF annual meeting in Davos on January 19, 2025. (Credit: AFP)