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New 'oligarchy' under fire as elites descend on Davos
Hindustan Times
|January 21, 2025
A leading NGO warned Monday of an emerging "aristocratic oligarchy" with massive political clout and primed to profit from Donald Trump's presidency, as global elites descend on Davos for their annual confab.
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The World Economic Forum kicks off in the Swiss Alpine resort on the same day as the presidential inauguration of Trump, who will not be in Davos but will make an online appearance later in the week.
Global charity Oxfam said in a report that Trump's election win and tax-cut plans are a boon to billionaires, whose combined wealth already grew by another $2 lakh crore last year to $15 lakh crore.
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