{"id":14375,"date":"2026-01-21T16:09:33","date_gmt":"2026-01-21T16:09:33","guid":{"rendered":"https:\/\/microvibenews.com\/?p=14375"},"modified":"2026-01-21T16:09:33","modified_gmt":"2026-01-21T16:09:33","slug":"down-arrow-button-icon-82","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=14375","title":{"rendered":"Down Arrow Button Icon"},"content":{"rendered":"

<\/p>\n

While the wealthiest business leaders from U.S. president Donald Trump to Nvidia CEO Jensen Huang touch down in the Swiss town of Davos to discuss the state of the world, a cohort of the ultra-rich are already sounding the alarm. Hundreds of millionaires and billionaires released an open letter in time for the World Economic Forum, calling on leaders attending the conference to fight raging wealth inequality with taxes.\u00a0<\/p>\n

\n

\u201cMillionaires like us refuse to be silent. It is time to be counted. Tax us and make sure the next fifty years meet the promise of progress for everyone,\u201d the letter stated.\u00a0<\/p>\n

\u201cExtreme wealth has led to extreme control for those who gamble with our safe future for their obscene gains. Now is the time to end that control and win back our future.\u201d<\/p>\n

So far, nearly 400 millionaires and billionaires across 24 countries have signed the letter condemning extreme wealth, including the likes of Hollywood actor Mark Ruffalo, Disney heirs Abby and Tim Disney, and real estate developer Jeffrey Gural.<\/p>\n

The open letter is part of a \u201cTime to Win\u201d campaign, led by wealth redistribution organizations including Patriotic Millionaires, Millionaires for Humanity, and Oxfam. It criticized global oligarchs with riches who have \u201cbought up\u201d democracies, exacerbated poverty, stifled tech innovation, dampened press freedom, and overall, \u201caccelerated the breakdown of our planet.\u201d After all, 77% of millionaires from G20 nations think extremely wealthy individuals buy political influence, and 71% believe those with riches can significantly influence elections, according to a poll conducted for Patriotic Millionaires.<\/p>\n

The Time to Win wealthy signatories offer a simple solution: \u201cTax us. Tax the super rich.\u201d<\/p>\n

\u201cAs millionaires who stand shoulder to shoulder with all people, we demand it,\u201d the open letter continued. \u201cAnd as our elected representatives\u2014whether it\u2019s those of you at Davos, local councillors, city mayors, or regional leaders\u2014it\u2019s your duty to deliver it.<\/p>\n

Stars and billionaires are calling out the super-rich for being ungenerous\u00a0<\/h2>\n

As the world mints hundreds of thousands of millionaires yearly and billionaire wealth soars to record highs, some leaders can\u2019t stand to stay quiet. Celebrities and the ultra-rich haven\u2019t just sent a message to money-hoarders with the Time to Win letter\u2014some have even called out billionaires in person, questioning their existence.\u00a0<\/p>\n

\u201cIf you\u2019re a billionaire, why are you a billionaire? No hate, but yeah, give your money away, shorties,\u201d Eilish said onstage last year at the WSJ Magazine<\/em> Innovator Awards with Meta mogul Mark Zuckerberg, worth $214 billion, in attendance.\u00a0<\/p>\n

Even the most philanthropic members of the ultra-rich club are wary of their peers\u2019 lack of charity. Billionaires have started their own initiatives like Warren Buffett, Melinda French Gates, and Bill Gates\u2019 The Giving Pledge, which attracted more than 250 billionaires who pledged to donate at least half of their wealth during their lifetimes, or in their wills. But efforts have largely fallen short. Last year, French Gates admitted that the signatories haven\u2019t given enough; And in a letter to shareholders, Buffett fessed up to the fact that billionaires aren\u2019t following through.\u00a0<\/p>\n

\u201cEarly on, I contemplated various grand philanthropic plans. Though I was stubborn, these did not prove feasible,\u201d Buffett wrote. \u201cDuring my many years, I\u2019ve also watched ill-conceived wealth transfers by political hacks, dynastic choices, and, yes, inept or quirky philanthropists.\u201d<\/p>\n

Billionaire and millionaire wealth is on the rise\u00a0<\/h2>\n

There\u2019s more people rolling in riches than ever before, and it\u2019s fueling an equity crisis at the bottom of the economic ladder.\u00a0<\/p>\n

In 2024 alone, the U.S. minted 379,000 new millionaires\u2014over 1,000 millionaires every day\u2014as the proportion of Americans in the ultrawealthy club swelled by 1.5%, according to a 2025 report from investment bank UBS. This cohort held about $107 trillion in total wealth at the end of that year: more than four times the amount they owned at the turn of the millennium.\u00a0<\/p>\n

In 2000, there were only 13.27 million everyday millionaires, but by the end of 2024, the group swelled to 52 million people worldwide.\u00a0<\/p>\n

While it might appear that eye-watering riches are spreading out to a larger number of individuals, it\u2019s mainly concentrating at the top. America\u2019s top 20% household earners\u2014averaging a net worth of $4.3 million\u2014accounted for about 71% of the U.S.\u2019s total wealth at the end of 2024, according to 2025 data from the Federal Reserve.\u00a0<\/p>\n

Meanwhile, the bottom half of American households, averaging about $60,000 in wealth, owned just 2.5% of the country\u2019s wealth. For the vast majority of U.S. citizens, joining the millionaire club\u2014and even more so, the billionaire club\u2014is a total pipe dream.<\/p>\n<\/div>\n

#Arrow #Button #Icon<\/p>\n","protected":false},"excerpt":{"rendered":"

While the wealthiest business … <\/p>\n","protected":false},"author":1,"featured_media":14376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[3816,4707,662,3817,3954,5264,9404,1698,3818,3161,3162,8083,3164,1298,6486,4981,1261,81,3170,9405],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/14375"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14375"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/14375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/14376"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}