UNEQUAL: The rise of a new American oligarchy and the agenda we need

November 3, 2025

Oxfam

This past year has been indelibly shaped by concentrated wealth and power. The 10 richest U.S. billionaires got $698 billion wealthier, and the arrival of the world’s first trillionaire grew more imminent. The Trump administration—largely with the support of the Republican-controlled Congress—has moved with staggering speed and scale to carry out a relentless attack on working-class families, while enriching the wealthy and well-connected.