A new analysis from international nongovernmental group Oxfam shows that the world’s top 10 billionaires increased their fortune by $698 billion over the past year, while linking the growth to President Donald Trump’s “Big, Beautiful Bill.” The analysis comes at the same time as the Trump administration’s decision to freeze Supplemental Nutrition Assistance Program (SNAP) funds, causing benefits for more than 42 million Americans to expire amid the government shutdown.
In 2025, the share of total U.S. assets owned by the wealthiest 0.1% reached its highest on record: 12.6%, following historical data showing a 987-fold wealth disparity between top and bottom households.
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The U.S. Department of Agriculture (USDA) emailed grocery stores Sunday, warning that discounts for those hurt by SNAP cuts violate the SNAP Equal Treatment Rule. MSNBC reported that at least two stores withdrew discounts after.
Oxfam recommends rebalancing power and taxing the rich, as Abby Maxman warned that the Trump administration and Republicans risk turbocharging current levels of inequality.
