Billionaires have ‘outsized’ political influence — and they’re richer than ever, says Oxfam

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Billionaires' wealth has risen sharply to a record high of $18.3 trillion — with the super-rich seeking power "for their own gain," according to a report by the global charity Oxfam released Monday. The number of billionaires reached more than 3,000 last year, and collectively they saw their fortunes increase by 16%, or $2.5 trillion, the report said. Added to this, billionaires' wealth has surged by 81% since 2020, the charity said, describing the past as "a good decade for billionaires." And