[[link removed]]

10 RICHEST AMERICANS HAVE GAINED $700 BILLION IN WEALTH SINCE TRUMP
REELECTION  
[[link removed]]


 

Jake Johnson
November 3, 2025
Common Dreams
[[link removed]]


*
[[link removed]]
*
[[link removed]]
*
*
[[link removed]]

_ “The new American oligarchy is here,” said the CEO of Oxfam
America. “Billionaires and mega-corporations are booming while
working families struggle to afford housing, healthcare, and
groceries.” _

,

 

New research published Monday shows that the 10 richest people in the
United States [[link removed]] have
seen their collective fortune grow by nearly $700 billion since
President Donald Trump [[link removed]]
secured a second term in the White House
[[link removed]] and rushed to deliver
more wealth to the top in the form of tax cuts
[[link removed]].

The billionaire wealth surge that has accompanied Trump’s return to
power is part of a decades-long, policy-driven trend of upward
redistribution that has enriched the very few and devastated the
working class [[link removed]], Oxfam
[[link removed]] America details in _Unequal:
The Rise of a New American Oligarchy and the Agenda We Need_
[[link removed]*548wtw*_gcl_au*MTYzMzE0MTIwOS4xNzYwOTUzMzE3*_ga*MTUyOTI2Mjc0LjE3MDEzNTg1MTA.*_ga_R58YETD6XK*czE3NjIxNzc2MzkkbzI5MCRnMSR0MTc2MjE3ODg3MyRqNDEkbDAkaDE3Njc5OTA0MzQ.*_fplc*U0JDckV4S0UlMkI1MW5NM3RyWUpUUEJ6dG5uY0hseCUyRmNUVUhUV04yZllIVGk2NmJOa0olMkJ5WWV3NVdteEhmZUlMNWZIZ1o5UkF2a2MxU2ZRUTEyZWc4elNzcTlldmtVbWIlMkJVSGRFaldiTHc5VnF2SXk4bDhrZ0hFd2FwazR5ZXclM0QlM0Q.].

Between 1989 and 2022, the report shows, the least rich US household
in the top 1% gained 987 times more wealth than the richest household
in the bottom 20%.

As of last year, more than 40% of the US population was considered
poor or low-income, Oxfam observed. In 2025, the share of total US
assets owned by the wealthiest 0.1% reached its highest level on
record: 12.6%.

The Trump administration—in partnership with Republicans
[[link removed]] in Congress—has added
rocket fuel to the nation’s out-of-control inequality
[[link removed]], moving “with
staggering speed and scale to carry out a relentless attack on
working-class families” while using “the power of the office to
enrich the wealthy and well-connected,” Oxfam’s new report states.

“The data confirms what people across our nation already know
instinctively: The new American oligarchy
[[link removed]] is here,” said Abby
Maxman, president and CEO of Oxfam America. “Billionaires
[[link removed]] and mega-corporations
are booming while working families struggle to afford housing
[[link removed]], healthcare
[[link removed]], and groceries.”

“Now, the Trump administration
[[link removed]] and
Republicans in Congress [[link removed]]
risk turbocharging that inequality as they wage a relentless attack on
working people and bargain with livelihoods during the government
shutdown,” Maxman added. “But what they’re doing isn’t new.
It’s doubling down on decades of regressive policy choices. What’s
different is how much undemocratic power they’ve now amassed.”

Oxfam released its report as the Trump administration continued to
illegally withhold federal nutrition assistance from tens of millions
of low-income US households just months after enacting a budget
[[link removed]] law that’s expected to
deliver hundreds of billions of dollars in tax breaks
[[link removed]]
to ultra-rich Americans and large corporations.

Given the severity of US inequality and ongoing Trump-GOP efforts to
make it worse, Oxfam stressed that a bold agenda “that focuses on
rebalancing power” will be necessary to reverse course.

Such an agenda would include—but not be limited to—a wealth tax on
multimillionaires and billionaires, a higher corporate tax rate, a
permanently expanded child tax credit
[[link removed]], strong antitrust
[[link removed]] policy that breaks up
corporate monopolies, a federal job guarantee, universal childcare,
and a substantially higher minimum wage
[[link removed]].

“Today, we are seeing the dark extremes of choosing inequality for
50 years,” Elizabeth Wilkins, president and CEO of the Roosevelt
Institute, wrote in her foreword to the report. “The policy
priorities in this report—rebalancing power, unrigging the tax code,
reimagining the social safety net, and supporting workers
[[link removed]]’ rights—are all
essential to creating that more inclusive and cohesive society.
Together, they speak to our deepest needs as human beings: to live
with security and agency, to live free from exploitation.”

_Jake Johnson is a senior editor and staff writer for Common Dreams._

* Billionaires
[[link removed]]
* Inequality and Politics
[[link removed]]
* Trump
[[link removed]]

*
[[link removed]]
*
[[link removed]]
*
*
[[link removed]]

 

 

 

INTERPRET THE WORLD AND CHANGE IT

 

 

Submit via web
[[link removed]]

Submit via email
Frequently asked questions
[[link removed]]
Manage subscription
[[link removed]]
Visit xxxxxx.org
[[link removed]]

Bluesky [[link removed]]

Facebook [[link removed]]

 




[link removed]

To unsubscribe, click the following link:
[link removed]