Canada's richest billionaires hold more wealth than the GDP of some countries

An Oxfam report says global billionaire wealth rose to US$18.3 trillion in 2025 and that Canada's 40 richest people saw their combined wealth grow to nearly $550 billion, which Oxfam says exceeds the GDP of some countries.

An Oxfam report released at the World Economic Forum in Davos says billionaire wealth reached a record high in 2025. The report states global billionaire wealth rose to US$18.3 trillion and that the number of billionaires topped 3,000. Oxfam Canada reports that the 40 richest people in Canada saw their combined wealth rise to nearly $550 billion, which it says is larger than the GDP of some countries. Key findings: - Global billionaire wealth rose by US$2.5 trillion in 2025 to US$18.3 trillion, a 16% increase, according to Oxfam. - More than 3,000 billionaires were recorded worldwide for the first time, and Oxfam says the 12 richest now hold more wealth than the poorer half of the world’s population. - Oxfam Canada reports at least 89 billionaires in Canada and says the wealth of the country's 40 richest reached nearly $550 billion, exceeding the GDPs of countries such as Chile and Finland. - The report highlights rising poverty and food insecurity in Canada and says Oxfam Canada is calling on the federal government to establish a wealth tax and curb the use of offshore tax havens. Summary: The report frames rising billionaire wealth as connected to broader economic inequality and potential political influence. Oxfam Canada is calling for policy measures including a wealth tax and action on offshore tax havens; any government response is undetermined at this time.