Millionaires Call for Higher Taxes on the Superrich at Davos

January 28, 2026 Priya Shah – Business Editor Business

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The World Economic Forum (WEF) in Davos and Wealth Concentration

The annual WEF conference in Davos, Switzerland, has brought together a large number of wealthy and powerful individuals. Business Insider tracked 157 private jets arriving near Davos,belonging to CEOs of major companies like Salesforce,Google,and representatives from firms like Aramco,BlackRock,and JPMorgan Chase.

Trump on Taxing Millionaires

Former President Donald Trump stated he wouldn’t oppose paying more taxes personally, but believes raising taxes on millionaires would be disruptive, perhaps causing them to leave the country and costing the US money.

Growing Billionaire Wealth

Oxfam reported a record number of billionaires were created last year, with the global total exceeding 3,000. Billionaire wealth has been increasing.

In essence, the text highlights the gathering of the world’s elite at Davos alongside discussions about wealth and taxation, and the increasing concentration of wealth among billionaires.