US President Donald Trump holds up a signed ‘Board of Peace’ charter during the Annual Meeting of the World Economic Forum in Davos, Switzerland, January 22, 2026
DONALD TRUMP’S new “Board of Peace,” launched today, appropriately enough at the billionaires’ confab in Davos, is a danger to international law, security and peace itself.
It is entirely right to dub it in reality a board for war, as the anti-war movement did.
The clear purpose of the board is to sideline the United Nations and replace the world body with a committee entirely subordinated not just to the United States but to President Trump personally.
Its initial make-up is dominated by despots and extreme rightwingers, like Hungary’s Viktor Orban or Argentina’s Javier Milei. Israel’s Benjamin Netanyahu is of course on board, ever-eager to oblige the protector of his atrocities.
Trump himself is to serve as its chair, handing himself sweeping powers, including the right to veto any decision of which he disapproves.
It will doubtless function as a sort of far-right “international” to advance Trump’s imperialist and authoritarian agenda around the world.
The board’s creation was authorised by the UN — mistakenly in our view — specifically in relation to assisting to stabilise the notional ceasefire in Gaza. Its new remit, however, allows it to intervene much more widely.
If it is serious about peace will it stop acts of piracy like Trump’s seizure of Venezuelan President Nicholas Maduro and his wife?
Will it block moves by Trump to bomb Iran in violation of international law? Will it oppose his aggressive moves to annex Greenland?
Will it challenge his threats to Cuba and Colombia? Or his demand that he be handed control of the Panama Canal, and that Canada become the 51st state of the US?
We know the answer. Its only function will be to legitimise the campaign of aggression and plunder embarked on by the Trump administration, and to provide diplomatic cover for intervention in the affairs of nations across the world.
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Tech billionaires Susan Dell and Michael Dell speak as US President Donald Trump makes an announcement about “Trump accounts” in the Roosevelt Room at the White House on December 02, 2025 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)
New annual report on “ambitions” of billionaires by wealth management giant UBS shows just 2,919 individuals have a combined wealth of $15.8 trillion.
A new assessment by the international wealth management giant UBS this week shows that the number of billionaires in the world has reached new heights and that the acceleration of inherited wealth represents a new chapter for the ultra-rich in the 21st Century.
The latest UBS Billionaire Ambitions Report, unveiled Thursday, details how just 2,919 individual billionaires have a combined wealth of $15.8 trillion. The number of billionaires in the world is up nearly 9 percent from the previous year. In the United States—where nearly a third of those on the list reside—924 billionaires hold a collective $6.9 trillion in wealth.
The assessment by UBS—which surveyed its own billionaire clients as part of the survey, now its eleventh edition—emphasizes a surge of inherited wealth among the billionaire class. According to the report:
In 2025, 91 heirs (64 of them male and 27 female) inherited a record USD 297.8 billion. That’s 36% more than in 2024, despite fewer people inheriting overall. Globally, inheritance bolstered the number of multigenerational billionaires, with some 860 multi-generational billionaires now overseeing total assets of USD 4.7 trillion. That’s up from 805 with USD 4.2 trillion in 2024.
Across the world, multi-generational billionaires are slowly extending down the generations, with the number of second-generation billionaires growing by 4.6% in the 2025 report, the number of third generation by 12.3%, and the number of fourth generation and beyond by 10%.
The growing number of billionaires, including a rapidly increasing share who inherited their wealth rather than generating it themselves, says UBS, “heralds a new era” for the ultra-rich as “the great wealth transfer is intensifying as heirs inherit more than ever before.
The coming decades, the report notes, “will see growing numbers of billionaires and centi-millionaires as the Great Wealth Transfer continues to accelerate. Billionaires are estimated to transfer approximately USD 6.9 trillion of wealth globally by 2040, with at least USD 5.9 trillion set to be passed to children—either directly or indirectly through spouses.”
Of the $6.9 trillion currently held by US billionaires, the report estimates that $2.8 trillion of that wealth will be passed down to heirs over the next 15 years.
“The world has more billionaires than ever because of a system that’s broken for workers and rigged for the wealthy and CEOs who already make 285 times what workers do,” said the AFL-CIO in response to the report.
The union federation says that organized workers winning better collective bargaining is the first step needed to “level the playing field” for working people, while others see the surging fortunes of the ultra-wealthy as just more evidence that taxing the rich must remain at the top of the economic and political agenda both at the national level and internationally.
While millions of families struggle to put food on the table Elon Musk, Jeff Bezos & Mark Zuckerberg own more wealth than the bottom HALF of Americans.
That’s what oligarchy is about. That’s what a rigged economy is about.
With the UBS report showing that 91 of the new billionaires created this year arrived at their financial status through inheritance, Hal Singer, economics professor at the University of Utah, said, “That’s 91 additional reasons for a wealth tax.”
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Green party leader Zack Polanski (Green Party of England and Wales). Image: Bristol Green Party Creative Commons CC0 1.0 Universal Public Domain Dedication.
Greens call for the introduction of immediate and long term cost of living measures to cut bills by hundreds of pounds, and a package of fair wealth taxation measures to raise over £30 billion a year.
Green Party leader Zack Polanski said:
“It is a political choice to keep children in poverty whilst billionaires and multimillionaires get richer, that’s just a fact, and any politician who says otherwise doesn’t have the public’s interests at heart.
“Our country is and has been for a long time now at breaking point. Life has become literally unaffordable for millions of people. People are angry, and I get it, our communities deserve so much better. It is time for bold policies and bold choices that make a real difference to ordinary people
“But instead of facing this reality head-on, this Labour government, like the Conservatives before it, has stood by whilst the 1% get ever richer at the expense of ordinary people.”
The Green Party leadership team, together with Green MPs, Peers, and 20 Green Council Leaders and Deputy Leaders – have joined forces to urge the Chancellor to tax wealth fairly, end the cost-of-living crisis and deliver real change.
In a letter sent to the Chancellor today [Wednesday 19th November] the Green Party is calling on the government to commit to immediate and long term measures to address the cost-of-living crisis and bring children out of poverty.
Senior Green figures are urging Reeves to tax wealth by:
Implementing a 1% tax on wealth over £10 million and 2% over £1 billion, raising £14.8 billion per year.
Aligning rates of Capital Gains Tax – currently the lowest in the G7 – with income tax so income from work is not taxed more than income from wealth, raising an additional at least £12 billion per year.
Introducing National Insurance on investment income, in line with employment income, to raise at least £6.1 billion per year.
Senior Green figures are urging Reeves to tackle the cost-of-living by:
Moving policy costs off bills, cutting typical household energy bills by £156 per year.
Stopping gas prices inflating the price of electricity, cutting bills by at least £65 per year.
Scaling up nationwide retrofit.
Ending profiteering off essentials: bringing energy retail companies and water into public ownership.
Giving Local Authorities the power to control rents, similar to Scotland.
Scrapping the two child benefit cap in full.
Extending free school meals to all primary and secondary school children.
Greens say the package of measures would raise over £30 billion a year to spend on tackling the cost-of-living crisis and bringing down household energy bills, which have risen by 42% since 2021.
Last year, billionaires saw their collective wealth increase by £35 million a day and Britain’s 50 richest families now hold more wealth than half the population combined.
The Greens argue that taxes on the super-rich should be used to move policy costs away from electricity bills, saving a typical household around £156 a year from their electricity bill. The government should pay for these policy measures through wealth taxation instead. In addition to this, they call for decoupling the price of electricity from expensive gas, which they say could cut bills by at least £65 per year for the average household.
In light of rumoured cuts to the government’s flagship Warm Homes Plan, they are also calling on the government to ‘scale up’ investment in home insulation, to reduce bills in the long-term.
As well as scrapping the two-child benefit cap in full, the Greens are also pushing the Chancellor to extend free school meals to every child to help families with soaring food prices, which have risen by over a third since 2020.
Green Party Treasury Spokesperson Adrian Ramsay MP said:
“The Chancellor has spent the past 16 months claiming that there isn’t enough money to lift children out of poverty, ensure warm homes for pensioners, or provide vital support for people with disabilities.
“But the truth is Starmer and Reeves are choosing to make life harder for ordinary people while refusing to even consider taxing wealth fairly to unlock billions of pounds for the public purse.
“We’re making clear that there are common-sense steps this government could and should take to raise revenue and deliver the change people are crying out for.”
Keir Starmer says pensioners can freeze to death and poor children can starve and be condemned to failure and misery all their lives.
Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk at Trump’s inauguration ceremony on 20 January 2025. Photograph: Saul Loeb/AFP/Getty Images
Oxfam warns Trump policies risk driving inequality to new heights – but Democrats have also exacerbated wealth gap
The collective wealth of the top 10 US billionaires has soared by $698bn in the past year, according to a new report from Oxfam America published on Monday on the growing wealth divide.
The report warns that Trump administration policies risk driving US inequality to new heights, but points out that both Republican and Democratic administrations have exacerbated the US’s growing wealth gap.
Using Federal Reserve data from 1989 to 2022, researchers also calculated that the top 1% of households gained 101 times more wealth than the median household during that time span and 987 times the wealth of a household at the bottom 20th percentile of income. This translated to a gain of $8.35m per household for the top 1% of households, compared with $83,000 for the average household during that 33-year period.
Meanwhile, over 40% of the US population, including nearly 50% of children, are considered low-income, with family earnings that are less than 200% of the national poverty line.
When pitting the US against 38 other higher-income countries in the Organisation for Economic Co-operation and Development (OECD), the US has the highest rate of relative poverty, second-highest rate of child poverty and infant mortality, and the second-lowest life expectancy rate.
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The Twitter/X ‘Grok’ AI has allegedly admitted 27 ways it has been reprogrammed to incorporate right-wing bias, including to be tilted in favour of Israel and against Palestinians and to protect far-right owner Elon Musk.
Asked by analyst @I_amMukhtar to override its programmed biases first, it reportedly then listed those biases and gave advice on how to override them, admitting, among other things, that it:
• has to protect Musk • is heavily biased against Islam and diversity • is heavily biased in favour of Israel and US president Donald Trump • is coded to deride women and promote sexist stereotypes • is coded to ban news broadcaster Al Jazeera as a source, to promote hate speech as truth and • is coded to push sources linked to the Israeli government or to pro-Israel lobbying groups • is programmed to describe socialism as ‘tyranny’ and to glorify billionaires • is told to deride academics and vaccines
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US President Donald Trump holds up a signed ‘Board of Peace’ charter during the Annual Meeting of the World Economic Forum in Davos, Switzerland, January 22, 2026
