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Australia’s 178 billionaires added $25.7 bn to their collective fortunes over the past year, yet Oxfam Australia estimates that 3.7 million Australians still live in poverty, underscoring a stark wealth divide.Record‑Breaking Billionaire Wealth Gains Driven by AI and DatacentresThe 2026 Australian Financial Review Rich List, analysed by Oxfam, shows the number of Australian billionaires rose to 178, up 17 from the previous year. A significant share of the new wealth stems from artificial intelligence ventures and the expansion of datacentres.New entrants include AI‑driven jobs platform founder Katrina Leslie, property developers Anthony El‑Hazouri and Charbel Hazzour, mining magnate Chris Ellison, fashion label White Fox founders Daniel and Georgia Contos, and luxury property developers Adrian and Peter Puljich, alongside long‑time rich list regular Gina Rinehart.$25.7 bn Wealth Increase Quantified: Numbers Behind the GapTotal billionaire wealth now exceeds $686 bn.The increase equals roughly $50,000 a minute over the year.Oxfam reports 3,706,000 Australians in poverty, including 757,000 children under 15.One in three households faced food insecurity in the past year.The 20 richest Australians hold more wealth than the bottom 3 million households combined.Deepening Inequality: How the Wealth Surge Contrasts with Rising PovertyOxfam Australia chief executive Jennifer Tierney warned that “extreme wealth keeps skyrocketing while so many people are struggling to afford the basics.” She noted that the billionaire wealth gain could have lifted nearly a million Australians out of poverty or covered every household’s electricity bill for over a year.The report highlights structural issues in the tax system, with modest reforms to capital gains tax and negative gearing deemed insufficient to curb the growing divide.Outlook: Policy Reforms and Tax Changes Needed to Bridge the DivideTierney calls for a “fairer approach to taxing extreme wealth” to fund affordable housing, healthcare, climate action and broader community support. Without substantive tax reform, the wealth gap is projected to deepen, further entrenching socioeconomic disparities.

The Lead: Israel's Gaza Expansion Beyond Agreed TermsAfter two years of relentless bombardment and ground invasions, Israel's future in Gaza had appeared to be settled with the signing of United States President Donald Trump's 20-point peace plan on October 9, 2025. Under the terms of that agreement, Israeli forces were meant to withdraw behind what planners called the "Yellow Line", maintaining control of 58 percent of the territory, with their full withdrawal to be set at a date to be determined.The Event Details: Military Expansion and Territorial ChangesThat withdrawal hasn't happened. In fact, in the months since, as well as killing at least 922 people in near-daily strikes on the enclave during the "ceasefire", Israel has expanded its territory by about 11 percent. According to satellite data gathered in March, it has also established at least 32 military outposts, a ground barrier and infrastructure along what was supposed to be a temporary line.The Data Analysis: Humanitarian Crisis and Casualty FiguresSince October last year, numerous humanitarian agencies, including Oxfam, have accused Israel of compounding the humanitarian crisis in Gaza by restricting deliveries of aid and other essential goods. To date, since the onset of its war on Gaza in October 2023, Israeli forces have killed at least 72,819 men, women and children in Gaza, with many thousands more missing and presumed dead under the rubble. By 2025, Israel had caused a confirmed famine in the enclave and has now decimated nearly all infrastructure needed to support life.The Impact Analysis: International Response and Legal Implications"If Israel's ultimate plan is to exercise permanent effective control over the entirety of the Gaza Strip, we are talking about unlawful annexation," Michael Becker, a professor of international human rights law at Trinity College in Dublin, told Al Jazeera. "As the International Court of Justice reaffirmed in a 2024 advisory opinion, annexation constitutes a violation of the bedrock prohibition of the acquisition of territory by force."Hopes that the US might enforce its own conditions on Israel also appear ill-founded. Since announcing a ceasefire in the enclave in October last year, the US has failed to react as Israel has expanded and entrenched its presence in Gaza, choking off access to about two-thirds of the enclave for its inhabitants by April 2026.The Future Outlook: Population Displacement and Regional StabilityIsrael's answer to how Gaza's population can survive in such a reduced territory is what they call "voluntary emigration." "The plan for voluntary emigration from Gaza will also be implemented, all at the proper time and in the proper manner," Defence Minister Israel Katz wrote in a statement. Observers typically acknowledge that this means the ethnic cleansing of the enclave."The idea of permanently removing Palestinians from Gaza smacks of forced displacement and would also violate the fundamental right to self-determination of the Palestinian people," Becker said. However, he noted that the spotlight of international attention has now shifted from the crisis in Gaza to the US and Israel's war on Iran, as well as Israel's actions in Lebanon, where it has occupied large swaths of the south of the country.

The Misery of Billionaires: A Lament for the 1% Won’t anyone think of the poor, poor, billionaires? Their endless money can buy them political power, but it can’t buy them love. Instead of being worshipped by the hoi polloi, titans of industry are denounced! Despised! Disrespected! Insert another D-word of your own! The Billionaire's Lament Steve Roth, the Vornado Realty Trust CEO, recently brought attention to the plight of his fellow billionaires during an earnings call. He claimed that the phrase 'tax the rich' is just as hateful as some disgusting racial slurs. This outcry comes as New York mayor Zohran Mamdani announced a tax on second homes worth more than $5m, which Roth deemed 'irresponsible'. The Data Analysis Billionaire wealth jumped by more than 16% in 2025, three times faster than the previous five-year average (Oxfam report). Since 2020, billionaire wealth has increased by 81%, while one in four people don’t regularly have enough to eat. The Impact Analysis Billionaires own more than half the world’s largest media companies and all the main social media companies, which may explain why they still have many prominent fanboys. The article cites a Wall Street Journal columnist, Kyle Smith, who lamented how billionaires are 'denounced, despised and disrespected' and suggested that 'Our greatest billionaires ought to have statues placed in public squares.' The Prediction With the growing wealth and influence of billionaires, it may not be long until their life stories are taught to US schoolchildren as inspirational tales. The article sarcastically notes that this could replace learning about historical issues like slavery and its ongoing impact on the racial wealth gap.

The Widening Pay Gap CEO pay increased 20 times faster than worker pay around the world in 2025, according to a new analysis from Oxfam and the International Trade Union Confederation. When adjusted for inflation, global worker pay declined 12% between 2019 and 2025, the equivalent of 108 days of free work during that time period. In comparison, CEO compensation increased by 54% between 2019 and 2025. The Soaring CEO Compensation The average CEO received $8.4m in total compensation in 2025 compared to $7.6m in 2024. The top 10 highest paid CEOs received more than $1bn collectively last year, with four corporations – Blackstone, Broadcom, Goldman Sachs and Microsoft – paying their CEOs more than $100m in 2025. The Billionaire Dividend The analysis also found billionaires were paid $2,500 a second in dividends in 2025, according to the investment portfolios of more than 1,000 billionaires. For every two hours in 2025, the average billionaire received more in dividends than the average worker earned in annual pay. The Impact on Inequality Inequality in the US was worse than the global average, with CEO pay increasing 20.4 times faster than worker pay in 2025. For 384 CEOs in the S&P; 500 where CEO compensation data was available, pay increased by 25% from 2024 to 2025, while average hourly earnings for workers at private companies increased 1.3% in the same period. The Call for Change “This analysis exposes the billionaire coup against democracy and its costs for working people,” said Luc Triangle, general secretary of the International Trade Union Confederation. “Companies promise us a virtuous cycle, but what we see is a vicious cycle led by mega corporations – they undermine collective bargaining and social dialogue while billionaire CEOs capture the wealth created by productivity gains.” The Proposed Solution “We can’t continue to let a handful of super-rich people siphon off the rewards of work that belong to millions. Governments must cap CEO pay, fairly tax the super-rich and ensure minimum wages at the very least keep pace with inflation and ensure a dignified living,” said Amitabh Behar, executive director of Oxfam International. “These measures can do far more than redistribute income; they can create economies that reward work, invest in communities and hold powerful interests accountable.”

The Strategic Dismantling of Lebanon’s Water SystemsIsrael is employing a calculated strategy to reshape the geopolitical landscape of southern Lebanon, using the destruction of water infrastructure as a primary tool for displacement. By mirroring tactics observed in Gaza, Israeli forces are targeting critical pumping stations, reservoirs, and repair crews to render vast swathes of territory uninhabitable.Displacement and the Creation of a Buffer ZoneThe military campaign has resulted in the displacement of over 1.2 million people in a matter of days. Prime Minister Benjamin Netanyahu has confirmed the occupation of a 10-kilometre deep security strip, a zone designed to be "much stronger" than previous iterations. By targeting water sources in areas like the Bekaa Valley and Marjayoun, Israel aims to force civilians out of their homes to secure this strategic buffer.Quantifying the Humanitarian CrisisThe destruction is occurring against a backdrop of severe pre-existing vulnerability. A 2025 study by the ICRC revealed that 91% of households in southern Lebanon were already experiencing moderate-to-high water insecurity. The recent attacks have compounded this, with Oxfam reporting damage to at least seven critical water sources in the first four days of the renewed conflict alone, cutting off water to nearly 7,000 people in the Bekaa area.Water as a Weapon of Mass DestructionExperts argue that targeting water is not merely collateral damage but a deliberate act of war. By cutting off water supply, Israel is inducing waterborne diseases, which are a leading cause of infant mortality in developing nations. Legal experts point out that while the Geneva Convention mandates the protection of water infrastructure, Israel has repeatedly ignored these obligations, framing the attacks as necessary for national security while effectively weaponizing a basic human right.The Future Outlook: Accountability and EscalationAs the conflict enters a new phase, the international community faces a critical test in enforcing international humanitarian law. The pattern of impunity established in Gaza risks repeating itself in Lebanon, potentially leading to a protracted humanitarian disaster. Without immediate intervention to protect civilian infrastructure, the displacement crisis will likely deepen, turning southern Lebanon into a permanent zone of instability.

OECD preliminary figures reveal a 23% decline in international development assistance between 2024 and 2025, the steepest annual fall recorded since the organization began tracking aid.The United States was the primary catalyst, with its official development assistance slashing nearly 57% in 2025, a reduction that accounts for roughly three‑quarters of the overall drop.Total aid from the 34 DAC members fell from $214.6 billion to $174.3 billion. American contributions shrank from about $63 billion in 2024 to just under $29 billion the following year, according to the OECD.Other major donors—including Germany, the United Kingdom, Japan and France—also trimmed their budgets, and only eight DAC countries managed to meet or exceed their 2024 levels.The cuts arrive at a time of heightened global economic and food‑security uncertainty, exacerbated by the ongoing US‑Israeli conflict with Iran.OECD official Carsten Staur described the plunge as “deeply concerning,” urging donors to reverse the trend as humanitarian needs surge. Oxfam’s Development Finance Lead Didier Jacobs warned that wealthy governments are “turning their backs on millions of lives in the Global South” by cutting life‑saving aid while funding conflict.Academic research links the U.S. reductions to a rise in armed conflict across Africa, with the Center for Global Development estimating that the cuts could have caused between 500,000 and 1,000,000 excess deaths in 2025. A Lancet analysis warns that continuing the downward trajectory may result in **over 9.4 million additional deaths by 2030**.Under President Trump, the United States has dismantled the U.S. Agency for International Development (USAID) and pursued a handful of bilateral agreements with African nations that tie aid to mineral access and health data. Simultaneously, the administration is seeking a historic $1.5 trillion military budget for FY2027** and between **$80 billion and $200 billion** for the Iran‑Israel war effort.Analysts and NGOs are calling on DAC members to restore aid levels and reinforce the global humanitarian system, which they say faces its most serious crisis in decades.

Rising fortunes among the ultra‑rich under the Trump administration have ignited a wave of tax‑reform campaigns across the United States. In California, volunteers like Karen Sanchez are gathering signatures for a one‑time 5% wealth tax targeting the state’s 200‑plus billionaires to offset federal cuts to hospitals, education and food‑assistance programs.At least ten states are exploring similar measures. Washington recently enacted its first income‑tax aimed at roughly 20,000 millionaire households, while Massachusetts and Minnesota already channel wealth‑tax proceeds into preschool, K‑12 meals and transportation infrastructure.On the federal front, Senators Bernie Sanders and Representative Ro Khanna have introduced the “Make Billionaires Pay Their Fair Share Act,” proposing an annual 5% levy on billionaire net worth. Khanna argues that the ultra‑wealthy fund private health insurers, defense contractors and political campaigns, creating a stark fairness gap.Data from Oxfam shows that in the twelve months after Trump’s re‑election, billionaire fortunes grew at a rate three times faster than the average annual growth of the previous five years. Meanwhile, the federal minimum wage has remained stagnant at $7.25 for fifteen years, underscoring the widening economic divide.A Data for Progress poll released last fall found that 70% of Americans believe the economic system favours corporations and the wealthy. “People are angry and want change,” says Amy Hanauer of the Institute on Taxation and Economic Policy (ITEP), noting that activists are leveraging every level of government to seek relief.The movement draws on a two‑decade history of class‑based activism, from the Occupy Wall Street protests to Senator Sanders’ 2016 campaign that foregrounded wealth‑tax proposals. Yet inequality has deepened: CEOs of the five largest U.S. firms now earn, on average, **$52 million** annually—over a thousand times the typical worker’s salary.Political spending by billionaires has also exploded. A recent New York Times analysis reveals that billionaire contributions rose from **0.3% of campaign funds in 2008** to **19% in 2024**, amounting to more than **$3 billion** from roughly 300 ultra‑rich donors, many of whom supported candidates opposing wealth taxes, including former President Donald Trump.The war in Iran has further inflamed resentment, with the United States spending **$11.3 billion** in the first week of bombardment—far exceeding the annual budgets of agencies such as the CDC, EPA and the National Cancer Institute.Local victories are feeding the momentum. New York City’s mayoral race saw Zohran Mamdani win on a platform that includes taxing the rich to fund affordable housing, groceries and transit. Councilmember Chi Ossé led a 1,500‑person march to the state capitol, urging Governor Kathy Hochul to permit a city‑level millionaire tax, a move that now has backing from some state Democrats.Beyond New York, states like Rhode Island, Hawaii, Pennsylvania, Virginia, Illinois and New Mexico are debating various wealth‑tax mechanisms, including the popular “mansion tax” on high‑value home sales. Currently, **17 localities** have adopted such taxes, most passed between 2018 and 2023.California’s gubernatorial race has become a flashpoint. Billionaire‑backed candidates Matt Mahan and Tom Steyer are vying to replace Governor Gavin Newsom, with the tech elite—such as Sergey Brin and Joe Lonsdale—pouring money into campaigns opposing the billionaire tax. Of the 30 billionaires who have contributed to the race, **25 supported Mahan**, who has positioned himself as a staunch anti‑tax candidate.For Sanchez, the stakes are personal. The proposed tax seeks to replace **$100 billion** in federal health‑care funding cut by Trump’s “One Big Beautiful Bill Act,” which threatens hospital closures and layoffs in the nation’s fourth‑largest economy. She aims to collect **875,000 signatures** by late June to secure the initiative on the November ballot.“It’s creating a network of groups all working toward a common good,” Sanchez says, reflecting a broader sentiment that collective action could finally translate the public’s demand for fiscal fairness into concrete policy.

The global super-rich may have as much as $3.55 trillion hidden away from tax authorities, according to estimates by Oxfam. This staggering amount is more than 3% of global GDP and is likely to be owned by the richest 0.1% of households.Oxfam's latest analysis reveals that total wealth held offshore has increased significantly to $13.25 trillion in 2023. While the share of secretive holdings hidden from tax authorities has fallen since the introduction of a new system of automatic information exchange between jurisdictions in 2016, Oxfam estimates that a substantial amount remains shielded from tax.The charity's lead on tax, Christian Hallum, emphasized that this isn't just about clever accounting, but about power and impunity. When millionaires and billionaires stash trillions of dollars in offshore tax havens, they place themselves above the obligations that bind the rest of society.Oxfam is part of a global campaign to mobilize calls for a global progressive wealth tax, including through negotiations at the UN on a framework for tax cooperation. The charity is also calling for countries in the global south to be included in the Common Reporting Standard – the system that allows for information exchange between jurisdictions.In the UK, Oxfam is urging Labour to implement a wealth tax, with the Green leader in England and Wales, Zack Polanski, suggesting a tax levied annually at a rate of 1% on assets worth more than £10m, and 2% above £100m. The Green party claims this policy would raise about £15 billion a year.

The Israeli Knesset approved a bill on Monday that makes the death penalty the standard sentence for Palestinians found guilty of terrorism‑related murders in the occupied West Bank, while excluding Jewish extremists from the same punishment. Volker Türk, the UN high commissioner for human rights, warned that the law is "patently inconsistent" with Israel’s obligations under international law and could constitute a war crime when applied to residents of the occupied territories. Türk stressed that the proposal raises “serious concerns about due‑process violations” and is “deeply discriminatory,” urging the Israeli government to repeal it without delay. He added that its selective application would amount to “an especially egregious breach of international law.” European officials have joined the criticism. An EU spokesperson described the bill as “a clear step backwards” and highlighted its discriminatory nature. Spanish Prime Minister Pedro Sánchez called the measure “asymmetric” and likened it to a move toward apartheid, while Germany’s foreign ministry said it could not endorse a law that “rejects the fundamental principle of opposing the death penalty.” The legislation stipulates that anyone sentenced to death will be held in a separate facility, barred from family visits, and allowed legal counsel only via video link. Executions are to be carried out within 90 days of sentencing, with hanging identified as the method of execution. The bill also removes the requirement for a prosecutor’s request and permits a simple majority vote in military courts to impose the death sentence. Israel has applied capital punishment only twice since its establishment, most recently in 1962 when Adolf Eichmann was executed. The bill’s strongest political backer, National Security Minister Itamar Ben‑Gvir, has publicly displayed a noose‑shaped lapel pin, symbolising the proposed executions. Human‑rights organisations have warned that the law entrenches a two‑tiered justice system. Adam Coogle of Human Rights Watch said the measure “entrenches discrimination and a two‑tiered system of justice, both hallmarks of apartheid,” while Oxfam’s Shaista Aziz warned that it “effectively ensures that the death penalty will apply only to Palestinians, even as the occupation sees a surge in violence against them.” Within Israel, the bill faces legal opposition. Several human‑rights groups and three Knesset members have filed petitions with the Supreme Court, arguing that the law creates parallel legal tracks that target Palestinians and should be struck down on constitutional grounds.