Billionaires at Davos: ‘Tax us!’

For one week in January, politicians, business leaders, and some of the biggest power brokers in the world gather in the Swiss town of Davos to discuss world-changing economic and social affairs.

This Davos gathering is known as the World Economic Forum and has been going on since 1971. In the past few years, some of the world’s wealthiest people have come together and asked governments around the world to please tax them.

The Guardian reports that more than 250 millionaires and billionaires have signed an open letter to world leaders at Davos, asking to be taxed what they truly deserve.

“Our request is simple: we ask you to tax us, the very richest in society,” states very clearly the letter, titled Proud to Pay More, which is available online in its full extent.

Image: seefromthesky / Unsplash

“Taxes will not fundamentally alter our standard of living, nor deprive our children, nor harm our nations’ economic growth,” The statement remarks. “But it will turn extreme and unproductive private wealth into an investment for our common democratic future.”

The letter, which was signed by millionaires and billionaires from 17 countries, argues that “inequality has reached a tipping point”, putting society’s stability at risk on several levels.

Image: seitamaaphotography / Unsplash

According to Deutsche Welle, signatories of the letter include Abigail Disney, heiress of the Walt Disney empire.

Another important heiress listed in the over 250 names is Valerie Rockefeller, great-great-granddaughter of Oil tycoon John Rockefeller, who has made by herself as an environmentalist and philanthropist.

Pictured: Valerie Rockefeller (far left) in 2022

Standing out for playing fictional billionaire Logan Roy, British actor Brian Cox joined the call to tax the rich. The Scottish-born performer has a worth of 15 million US dollars, according to the website Celebrity Net Worth.

Also, from the world of entertainment, British actor and screenwriter Simon Pegg also showed his support for the cause.

Signatories were not limited to the English-speaking world, either. Austrian chemical heiress Marlene Engelhorn is also listed. Engelhorn announced her plan to redistribute the 25 million euros she inherited from her grandmother.

However, it’s important to remark that this isn’t the first time a group of millionaires and billionaires have called for higher taxes from Davos.

Back in 2023, a similar letter was signed by a group of high-profile rich and influential people, making similar statements to seek “cooperation in a fragmented world”.

And one year before, in 2022, over 100 millionaires and billionaires signed yet another similar letter, also demanding governments for a new, higher taxes for wealth.

According to Oxfam, the five wealthiest men in the world doubled their wealth since 2020 and the world could have its first trillionaire within the first decade.

Meanwhile, many people are wondering if these goodwill messages from the top 1% are nothing but a grand but ultimately gesture, without actually seeking solutions or doing anything relevant to address the problem.