By Trendsetter Tribune 
Nearly 400 millionaires and billionaires have signed an open letter urging global leaders to implement higher taxes on the super-rich, coinciding with the start of the World Economic Forum (WEF) in Davos, Switzerland.
The letter, endorsed by figures such as Oscar-nominated actor Mark Ruffalo and musician Brian Eno, warns that extreme wealth is negatively impacting democracy, innovation, and social equity worldwide. According to the signatories, the richest 1 percent of people now control more than 95 percent of global wealth relative to the rest of the population.
“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,” the statement says.
The letter calls on governments to take immediate action to narrow the wealth gap. Organisers of the “Time to Win” campaign—including Patriotic Millionaires, Millionaires for Humanity, and Oxfam—emphasised that taxing the super-rich is a simple and effective solution supported both by the public and by many wealthy individuals themselves.
“You already have a simple and effective solution, supported by millionaires and the public alike. Stop squandering the time we have—tax the super rich,” the campaign statement said. “As millionaires who stand shoulder to shoulder with all people, we demand it. And as our elected representatives, it’s your duty to deliver it. So tax us. Tax the super rich.”
Oxfam International executive director Amitabh Behar added that last year’s unprecedented rise in billionaire wealth highlights the urgent need for reform. “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,” Behar said. “Governments must implement taxes on the super-rich now and prioritise reducing inequality. The world cannot continue on this obscene trajectory.”
The letter also comes amid heightened attention on US President Donald Trump, who, as a billionaire himself, has assembled the wealthiest cabinet in US history during his second term. His presence at the forum has drawn scrutiny due to his controversial proposals regarding Greenland and tariffs on allied nations.
The open letter reflects growing concerns that extreme concentrations of wealth among a small elite are undermining democratic institutions and slowing social progress. Signatories are calling for immediate action to ensure a fairer global economic system.