Jeff Bezos’s superyacht ‘Koru’ often travels accompanied by a smaller ‘support’ superyacht. Image by Conmat13 under the Creative Commons Attribution-Share Alike 4.0 International license via wikimedia.
In response to the UNEP Emissions Gap Report published 4th November 2025, Nafkote Dabi, Climate Policy Lead at Oxfam, said:
“Just days before global leaders arrive in Brazil for COP30, this report is a blaring siren calling for greater climate action.
“Since the Paris Agreement, the richest 1% have used up more than twice the carbon budget of the poorest half of humanity. This inequality is more than unjust—it’s deadly. The extreme emissions of the richest people and countries are burning through the little remaining the amount of CO2 that can be emitted while avoiding climate disaster. Meanwhile, the poorest communities suffer the most devastating impacts.
“Governments cannot close the emissions gap without slashing the carbon footprint of the super-rich and addressing extreme inequality. COP30 must be a turning point. Global leaders must cut the emissions of the richest, tax rich polluters and their profits, and deliver a just transition—one that creates decent green jobs, builds resilient economies, and puts people and planet before profit.”
Image of a private jet by Andrew Thomas from Shrewsbury, UK.
Oxfam’s recent report, “Climate Plunder: How a powerful few are locking the world into disaster”, presents new data which finds that a person from the richest 0.1% produces more carbon pollution in a day than the poorest 50% emit all year. If everyone emitted like the richest 0.1%, the carbon budget would be used up in less than 3 weeks.
The “UN Emissions Gap report: Off Target” finds that global warming projections over this century, based on full implementation of updated government climate pledges, are 2.3-2.5°C, while those based on current policies are 2.8°C.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.
Image of a private jet by Andrew Thomas from Shrewsbury, UK.
Billionaire investments in polluting industries such as fossil fuels and cement double the average for the Standard and Poor group of 500 companies – Oxfam
The investments of just 125 billionaires emit 393 million tonnes of CO2 each year – the equivalent of France – at an individual annual average that is a million times higher than someone in the bottom 90 percent of humanity.
Carbon Billionaires: The investment emissions of the world’s richest people, is a report published by Oxfam based on a detailed analysis of the investments of 125 of the richest billionaires in some of the world’s biggest corporates and the carbon emissions of these investments. These billionaires have a collective $2.4 trillion stake in 183 companies.
The report finds that these billionaires’ investments give an annual average of 3m tonnes of CO2e per person, which is a million times higher than 2.76 tonnes of CO2e which is the average for those living in the bottom 90 percent.
The actual figure is likely to be higher still, as published carbon emissions by corporates have been shown to systematically underestimate the true level of carbon impact, and billionaires and corporates who do not publicly reveal their emissions, so could not be included in the research, are likely to be those with a high climate impact.
“These few billionaires together have ‘investment emissions’ that equal the carbon footprints of entire countries like France, Egypt or Argentina,” said Nafkote Dabi, Climate Change Lead at Oxfam “The major and growing responsibility of wealthy people for overall emissions is rarely discussed or considered in climate policy making. This has to change. These billionaire investors at the top of the corporate pyramid have huge responsibility for driving climate breakdown. They have escaped accountability for too long,” said Dabi.
Jeff Bezos’s superyacht ‘Koru’ often travels accompanied by a smaller ‘support’ superyacht. Image by Conmat13 under the Creative Commons Attribution-Share Alike 4.0 International license via wikimedia.
“Emissions from billionaire lifestyles, their private jets and yachts are thousands of times the average person, which is already completely unacceptable. But if we look at emissions from their investments, then their carbon emissions are over a million times higher,” said Dabi.
Contrary to average people, studies show the world’s wealthiest individuals’ investments account for up to 70 percent of their emissions. Oxfam has used public data to calculate the “investment emissions” of billionaires with over 10 percent stakes in a corporation, by allocating them a share of the reported emissions of the corporates in which they are invested in proportion to their stake.
The study also found billionaires had an average of 14 percent of their investments in polluting industries such as energy and materials like cement. This is twice the average for investments in the Standard and Poor 500. Only one billionaire in the sample had investments in a renewable energy company.
The choice of investments billionaires make is shaping the future of our economy, for example, by backing high carbon infrastructure – locking in high emissions for decades to come. The study found that if the billionaires in the sample moved their investments to a fund with stronger environmental and social standards, it could reduce the intensity of their emissions by up to four times.
“The super-rich need to be taxed and regulated away from polluting investments that are destroying the planet. Governments must put also in place ambitious regulations and policies that compel corporations to be more accountable and transparent in reporting and radically reducing their emissions,” said Dabi.
Oxfam has estimated that a wealth tax on the world’s super-rich could raise $1.4 trillion a year, vital resources that could help developing countries – those worst hit by the climate crisis – to adapt, address loss and damage and carry out a just transition to renewable energy. According to the UNEP adaptation costs for developing countries could rise to $300 billion per year by 2030. Africa alone will require $600 billion between 2020 to 2030. Oxfam is also calling for steeply higher tax rates for investments in polluting industries to deter such investments.
The report says that many corporations are off track in setting their climate transition plans, including hiding behind unrealistic and unreliable decarbonization plans with the promise of attaining net zero targets only by 2050. Fewer than one in three of the 183 corporates reviewed by Oxfam are working with the Science Based Targets Initiative. Only 16 percent have set net zero targets.
Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.Keir Starmer commits to play the caretaker role for Capitalism through the “hard times”.
Activists drape a “No Space For Bezos” banner from Venice’s iconic Rialto Bridge on June 13, 2025 to protest a party celebrating the wedding of multicentibillionaire Amazon.com founder Jeff Bezos and journalist Lauren Sánchez. (Photo: Stefano Mazzola/Getty Images)
“We’re just citizens who started organizing and we managed to move one of the most powerful people in the world,” said one protest organizer.
Amazon.com founder Jeff Bezos and Lauren Sánchez on Tuesday relocated their upcoming lavish Venice wedding celebration, a move cheered as an “enormous victory” by protesters whose recent demonstrations in the northeastern Italian city have highlighted the socioeconomic and climate damage caused by billionaires.
Bezos—who is currently the world’s fourth-richest person, according to lists published by Bloomberg and Forbes—is set to marry Sánchez, a journalist, later this week, and the couple is planning to celebrate the occasion with a three-day extravaganza costing an estimated $46-56 million, according to Reuters.
Around 90 private jets are scheduled to land in area airports and local yacht harbors are fully booked, underscoring the climate and environmental impact on a city struggling to survive on one of myriad frontlines of the planetary emergency.
“We are very proud of this! We are nobodies, we have no money, nothing!”
The nuptial celebration has been relocated from the Scuola Grande della Misericordia to the Arsenale di Venezia, a historic fortified palace about 3 kilometers (1.8 miles) away from the original location. Officials cited concerns for the security of guests including several members of U.S. President Donald Trump’s family.
Members of groups including No Space for Bezos, Greenpeace Italy, and Everyone Hates Elon—which targets Elon Musk, the world’s richest person—have staged a series of demonstrations, including one on Monday at which protesters laid out a massive banner with Bezos’ face and the message “If You Can Rent Venice for Your Wedding You Can Pay More Tax” in Piazza San Marco.
Responding to the celebration’s relocation, Tommaso Cacciari of No Space for Bezos told the BBC Wednesday: “We are very proud of this! We are nobodies, we have no money, nothing!”
“We’re just citizens who started organizing and we managed to move one of the most powerful people in the world,” Cacciari added.
Wedding-related festivities are set to kick off Thursday evening, and city officials have blocked off parts of central Venice. While some residents have welcomed the money and fanfare the event will bring to a city with a long and storied history of oligarchs and opulence, others bristle at what they see as the transformation of their home into a playground for the superrich.
“There’s only one thing that rules now: money, money, money, so we are the losers,” Venice resident Nadia Rigo told Reuters. “We who were born here have to either move to the mainland or we have to ask them for permission to board a ferry. They’ve become the masters.”
In the United States, critics contrasted the stratospheric cost of Bezos’ celebration with the multicentibillionaire’s history of personal and corporate tax dodging—and the hyper-capitalist system that enables it.
“Jeff Bezos is worth $230 billion and is reportedly spending $20 million on a three-day wedding in Venice while sailing around on his $500 million yacht,” former U.S. Labor Secretary Robert Reich said Wednesday on the social media site X. “If he can afford to do that, he can afford a wealth tax and to pay Amazon workers a living wage. Hello?”
This is oligarchy. This is obscene.While 60% live paycheck to paycheck & kids go hungry, Jeff Bezos, worth $230 billion, goes to Venice on his $500 million yacht for a $20 million wedding & spends $5 million on a ring while his real tax rate is just 1.1%.End this oligarchy.
While No Space for Bezos organizers are celebrating their victory and have canceled plans to fill Venice’s canals with inflatable crocodiles in a bid to block celebrity guests from accessing the Scuola Grande della Misericordia, they said they still plan on protesting the festivities by holding a “No Bezos, No War” rally and march.
“It will be a strong, decisive protest, but peaceful,” Federica Toninello of the Social Housing Assembly network toldEuronews Wednesday. “We want it to be like a party, with music, to make clear what we want our Venice to look like.”
Activists from the U.K. action group Everyone Hates Elon and Greenpeace Italy unfolded a banner reading, “If you can rent Venice for your wedding, you can pay more tax,” on Piazza San Marco in the Italian city on June 23, 2025. (Photo: Michele Lapini/Greenpeace)
“This isn’t just about one person—it’s about changing the rules so no billionaire can dodge responsibility, anywhere,” said one Greenpeace campaigner.
Billionaire Amazon founder Jeff Bezos—the third- or fourth-richest person on the planet, depending on the list—is hosting various wedding events in Venice, Italy, this week, festivities that have drawn protests, including a massive banner on Monday.
Activists with Greenpeace Italy and the U.K. action group Everyone Hates Elon—targeting Elon Musk, U.S. President Donald Trump’s close far-right ally and the wealthiest person on Earth—unfolded a banner that read, “If you can rent Venice for your wedding, you can pay more tax,” in Piazza San Marco.
“While Venice is sinking under the weight of the climate crisis, billionaires are partying like there is no tomorrow on their megayachts,” Greenpeace campaigner Clara Thompson said in a statement. “This isn’t just about one person—it’s about changing the rules so no billionaire can dodge responsibility, anywhere.”
“The real issue is a broken system that lets billionaires skip out on their fair share of taxes while everyone else is left to foot the bill,” she argued. “That’s why we need fair, inclusive tax rules, and they must be written at the U.N.”
Jeff Bezos pays his staff poverty wages and dodges tax. No wonder he can afford to shut down half of Venice for his wedding this week. Tax billionaires NOW.Location: Piazza San Marco, Venice@greenpeace.org #JeffBezos #TaxTheSuperRich
Reporting on Monday’s display of the banner—which features Bezos’ face and is about 65 feet long and wide—Reuters detailed:
Local police arrived to talk to activists and check their identification documents, before they rolled up their banner.
“The problem is not the wedding, the problem is the system. We think that one big billionaire can’t rent a city for his pleasure,” Simona Abbate, one of the protesters, told Reuters.
A spokesperson from Everyone Hates Elon similarly said in a Monday statement that “as governments talk about hard choices and struggle to fund public services, Jeff Bezos can afford to shut down half a city for days on end just to get married.”
“Just weeks ago, he spent millions on an 11-minute space trip,” the spokesperson added, referring to the Blue Origin flight for multiple public figures, including Bezos’ fiancée, Lauren Sánchez. “If there was ever a sign billionaires like Bezos should pay wealth taxes, it’s this.”
Bezos and Sánchez’s event planners, Lanza and Baucina, toldCNN: “Rumors of ‘taking over’ the city are entirely false and diametrically opposed to our goals and to reality… From the outset, instructions from our client and our own guiding principles were abundantly clear: the minimizing of any disruption to the city.”
The details surrounding Bezos’ marriage to the former news anchor have been closely guarded, but CNN reported that around 30 of Venice’s 280 water taxis are thought to be reserved, the city’s nine yacht ports are booked, and one source said that special permission has been granted for private helicopters.
While Venice’s mayor and regional governor Luca Zaia have defended the billionaire’s luxury wedding events, citing economic benefits for local businesses, “the ‘No Space for Bezos’ movement—a play on words also referring to the bride’s recent space flight—has united a dozen Venetian organizations including housing advocates, anti-cruise ship campaigners, and university groups,” according toThe Associated Press.
The Bloomberg and Forbes lists tracking global billionaires put Bezos’ net worth between $223.4 billion and $231 billion as of Monday. At times in recent years, he has been believed to be the richest person in the world.
