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Billionaires have more money and political power than ever, Oxfam says

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Billionaires have more money and political power than ever, Oxfam says

Charity says superrich 4,000 times more likely to hold political power than others, and own all social media companies, in report released to coincide with the opening of the WEF’s annual meeting in Davos.

International aid organisation Oxfam has released its annual report on rising inequality, expressing concern that billionaires are not only wealthier than ever but are also cementing their control over politics, media and social media.

The report released on Sunday also underscored the widening chasm between the haves and have-nots in a world beset by conflicts and multiplying protests.

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According to Oxfam’s analysis, the collective wealth of billionaires surged by $2.5 trillion in 2025, almost equivalent to the total wealth held by the bottom half of humanity, or 4.1 billion people.

Last year was also the first time that there were more than 3,000 billionaires in the world, and the first time that the world’s richest person, Elon Musk, had more than half a trillion dollars.

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The charity’s annual report on rising inequality was released to coincide with the opening of the World Economic Forum’s annual meeting in Davos, Switzerland, a meeting which hosts close to 1,000 of the world’s richest people together with political leaders, alongside a handful of invited activists each year.

The theme of this year’s meeting is A Spirit of Dialogue. However, Oxfam argued in its annual report that the superrich are increasingly controlling the means of communication, including both traditional and newer forms of media.

It cited examples of Jeff Bezos, the billionaire owner of Amazon, buying The Washington Post, Musk acquiring Twitter/X, Patrick Soon-Shiong taking over the Los Angeles Times newspaper and far-right billionaire Vincent Bollore owning France’s CNews.

“The outsized influence that the superrich have over our politicians, economies and media has deepened inequality and led us far off track on tackling poverty,” said Oxfam International Executive Director Amitabh Behar.

“Governments should be listening to the needs of the people on things like quality healthcare, action on climate change and tax fairness,” Behar added.

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Oxfam also estimated that billionaires are 4,000 times more likely to hold political office than common citizens and cited a World Values Survey of 66 countries, which found that almost half of all people polled say the rich often buy elections in their country.

“The widening gap between the rich and the rest is at the same time creating a political deficit that is highly dangerous and unsustainable,” Behar said.

Demonstrators confront riot police during a protest against chronic cuts to electricity and water in Antananarivo, Madagascar, on September 30, 2025 [Mamyrael/AP Photo]

‘Lives are becoming unaffordable and unbearable’

Oxfam also noted that there were 142 significant antigovernment protests across 68 countries last year, which it said authorities typically met with violence.

“Governments are making wrong choices to pander to the elite and defend wealth while repressing people’s rights and anger at how so many of their lives are becoming unaffordable and unbearable,” Behar said.

According to the WEF, participants at this year’s Davos meeting include “nearly 850 of the world’s top CEOs and chairpersons” alongside political leaders, including United States President Donald Trump, Canadian Prime Minister Mark Carney, and Chinese Vice Premier He Lifeng.

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In addition to its political advocacy, Oxfam is also an aid organisation, delivering humanitarian assistance in countries around the world.

The group repeatedly sounded the alarm about forced starvation in Gaza under Israel’s genocidal war and was one of 37 international aid groups banned from the Palestinian enclave by Israel late last year.

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Video shows gaping hole after small plane crashes into towering skyscraper

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Video shows gaping hole after small plane crashes into towering skyscraper

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Video captured a large emergency response after a small plane crashed into Beijing’s tallest skyscraper on Friday, prompting an immediate information blackout from Chinese authorities, The Associated Press reported.

Video and photos shared on social media appear to show the aircraft plummeting to the ground after smashing a large hole in the 108-story CITIC Tower, located in the Chinese capital’s business district. 

Police, fire and EMS workers were spotted at the scene preventing witnesses from taking photos and attempting to clear the area.

People gather near the CITIC Tower in Beijing on June 26, 2026, after an eyewitness reported plane debris at the base of Beijing’s tallest building. Video footage taken from a nearby building by the witness showed fire trucks blasting water at smoke billowing from the 528-metre (1,732-foot) CITIC Tower, while the wreck of a plane lay on the ground beside the building. (Adek Berry/AFP via Getty Images)

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A person working inside the high-rise said the plane crash triggered the building’s fire alarms. 

Flight tracking data from Flightradar24 indicated the aircraft was a Sunward SA 60L Aurora, which took off about 30 miles east of the city and crashed shortly before 6 p.m. local time. 

ADS-B data for the flight only includes a partial flight path and stops prior to the crash, according to air traffic data.

A hole is seen (R) on the side of the CITIC Tower in Beijing on June 26, 2026, after a reported plane crash. (Peter Catterall/AFP via Getty Images)

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The AP reported that photos and videos of the incident escaped the country’s “great firewall” and were circulated on social media platform X, though Chinese censors have removed content about the crash from the country’s restricted internet. 

No information has been released by government officials or state-run media, as of Friday afternoon.

Police personnel block the road near the CITIC Tower in Beijing on June 26, 2026. (Adek Berry/AFP via Getty Images)

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The cause of the crash, identity of the pilot, and the number of casualties remain unclear.

The White House did not immediately respond to Fox News Digital’s request for comment.

This is a developing story. Please check back for updates. 

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Burkina Faso cuts diplomatic ties with former colonial ruler France

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Burkina Faso cuts diplomatic ties with former colonial ruler France

The military government, in power since a coup in 2022, accused France of having ‘neo-colonial ambitions’.

Burkina Faso has broken off diplomatic relations with France, further widening the rift with its former colonial ruler.

“The government of Burkina Faso hereby informs the national and international community that it has decided to sever diplomatic relations with France with effect from today, June 26, 2026,” said Friday’s statement read out on national television.

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The military government led by Captain Ibrahim Traore, in power since a coup in September 2022, is pursuing a policy against critical voices and Western countries, especially France.

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In the TV announcement, the government accused France of persistently acting against its interests.

“The essential conditions for promoting relations based on mutual ⁠respect, reciprocal trust, respect ⁠for the principle of non-interference in internal affairs and national sovereignty are not in place,” said Communications ⁠Minister, Gilbert Ouedraogo.

He said the decision ⁠followed a review of relations with Paris. He accused France of having “neo-colonial ambitions, made evident by its active support for subversive networks and the terrorists who are plunging our country and the Sahel into mourning”.

In January, political parties in Burkina Faso were formally dissolved by the military government, which has also seized all their assets in a move analysts say is a major blow for democracy in the West African nation.

Landlocked Burkina Faso is grappling with several armed groups which have seized control of land in the country’s north, south and west. These include the al-Qaeda-backed Jama’at Nusrat al-Islam wal-Muslimin (JNIM) and Islamic State Sahel Province (ISSP), which also operate in neighbouring Mali and Niger.

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Burkina Faso’s military has been accused of committing atrocities, including the ethnic cleansing of Fulani civilians, amounting to war crimes and crimes against humanity, Human Rights Watch found last April.

According to the government statement released on Friday, the decision to cut ties with France “exclusively concerns diplomatic relations between the two states” and “does not call into question the historical, human, cultural and social ties between the people of Burkina Faso and France”.

It added that French nationals in Burkina Faso will continue to be protected in accordance with the law.

Once a significant power in northern, central and western Africa, France has seen its influence shrink in recent years, especially as many of its former African colonies, particularly in the Sahel, have distanced themselves and become more closely aligned with Russia and China.

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‘Eddie Cochran: Don’t Forget Me’ Director Kirsty Bell on How Legendary Musician Influenced New Generation of ‘Rock Stars’ Like Yungblud

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‘Eddie Cochran: Don’t Forget Me’ Director Kirsty Bell on How Legendary Musician Influenced New Generation of ‘Rock Stars’ Like Yungblud

When pioneering producer and filmmaker Kirsty Bell set out to make a film about legendary American musician Eddie Cochran, she didn’t want to merely chronicle his brief career. Looking back at the musician’s work, who died while touring the U.K. in 1960, aged just 21, Bell felt she needed to “bring him back to life.” The result of that mission is “Eddie Cochran: Don’t Forget Me,” closing this year’s Raindance Film Festival.

Speaking with Variety ahead of the film’s U.K. premiere, Bell says it was her producer, Ben Charles Edwards, who first brought up Cochran’s name as a possible subject for her next film. At the time, seasoned producer Bell had just taken a major step in her career by directing her feature debut, 2021’s “A Bird Flew In.” “That film came from my brain and my heart, and I knew I wanted to link these two things again,” she says. “I wanted to go on an emotional journey, because that’s how I get my best stuff.” 

Bell, who founded Goldfinch Entertainment back in 2016, knew and loved Cochran’s music, but soon realized she knew very little about his life. “There were so many things that linked him to modern-day music,” she recalls. “I have this pad on my desk where I note down ideas and I just started scribbling thoughts around his name. Suddenly, this mind map of him appeared, linking him basically to everyone and everything that has happened in music after. That blew me away.”

Once Bell decided to tell the story of “trailblazer” Cochran, she knew she would not like to make “an ordinary documentary” just “talking to a bunch of musicians about Eddie’s songs they have covered.” “This is about legacy,” she adds, saying how she set out to work closely with executive producer Michelle Arnusch to secure a wide-spanning selection of talking heads that could reflect Cochran’s impact. One notable figure is actor Kiefer Sutherland, featured heavily in the film as a major fan of Cochran’s work. 

“We wanted to get people who were either deeply influenced by Eddie or who knew him, and Kiefer is a great example because, through my research, I found out he was supposed to have played Eddie in a biopic when he was only 18 or 19 years old,” she recalls. “The film was cancelled, but Kiefer remained a fan. He has such a brilliant mind and is also a musician, so it was perfect. 

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Kiefer Sutherland in “Eddie Cochran: Don’t Forget Me,” courtesy of Fremantle

Joining Sutherland is a roster of major names including Keith Richards, Rod Stewart, John Waters, Roger Daltrey, Cliff Richard and Yungblud. Talking about the latter, Bell says the young English musician “was always on her list,” recalling being at the Royal Albert Hall for one of his concerts before he became a major international star and being astounded by his fans. “All of them looked like they were part of a gang, like they knew something about each other. They were all dressed similarly, all bound together. Before Yungblud became famous, I remember thinking: This is a young Eddie. He’s got this tribe, and they support him wherever he goes. He’s a modern rock star.”

Seeing Yungblud’s fans led Bell to getting access to hundreds of fan letters to Eddie, which became a key component of the film. Form-wise, the filmmaker also knew she wanted to “bring Eddie back to life.” “The only way I could do that was by doing the reconstructions because there is hardly any video footage of him around the world.” She then cast Jack Harris to play Cochran onscreen, recreating key moments of the musician’s life as he went from a budding singer struggling to place singles on the radio to becoming the subject of an Elvis-like mania. 

But none of it would have happened without the support of Cochran’s family, Bell emphasizes. Asked about her relationship with Eddie’s living relatives, the filmmaker says it was “very difficult to start with” because the team “didn’t know the pathway to them very well, and we knew other people had approached them in the past and they refused.” 

Bell then approached famed U.S. entertainment lawyer Sindee Levin, “the Cochran family’s gatekeeper and Hollywood amazingness.” The two had an hour-long first meeting, which led to Levin introducing Bell to Patty Hickey, Cochran’s only living sibling. “We showed them a very early teaser we put together and were sending out to potential contributors, and she just burst into tears.”

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Despite having a warm first welcome, Bell was still anxious to show the finished film to Cochran’s family. “I was terrified for them to watch the film because what if they felt I hadn’t portrayed something correctly? What if they thought I was being insulting or that it wasn’t good enough? That’s why we sent the film to them right away. And they made a family thing out of watching it. We had to wait, and when they came back to say how much they loved it, it was a huge relief because they are the only people I need to please.”

As for closing Raindance, Bell is “astounded” to be asked back five years after “A Bird Flew In” also premiered at the festival. “You think making a documentary might mean it won’t get to a wider audience, but to have someone see it as a bigger thing and to have it close a festival with two major screenings shows you that making independent films is about the product that creates appeal to the widest audience you can get.” The screening is also extra special as Cochran will receive a posthumous Raindance Icon Award, presented to Eddie’s sister and niece, and set to be displayed alongside his original Gretsch guitar and his other trophies at the Rock & Roll Hall of Fame in Cleveland, Ohio.

With “Don’t Forget Me” now making its way around the festival circuit, Bell is back thinking about what’s next. “I’ve written a script for another drama feature, but there are a couple of documentaries that have come my way and have interesting human subjects,” she says. “I obviously got Goldfinch and everything that comes with it, but directing-wise, the next step is to link what I did with ‘A Bird Flew In’ and ‘Eddie’ and see what I can produce that feels like a next level up from that. I am not going to be directing a film every single year, so I need it to be something that will build on both of those.”

“Eddie Cochran: Don’t Forget Me” is produced by Goldfinch Entertainment in partnership with the Cochran family estate and Universal Music Enterprises. Fremantle handles international distribution.

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