• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
SuccessMillionaires

Abigail Disney says ‘extreme wealth is eating our world alive.’ She and Mark Ruffalo are among 200 millionaires calling for taxes on the ultra-rich

By
Chloe Berger
Chloe Berger
Down Arrow Button Icon
By
Chloe Berger
Chloe Berger
Down Arrow Button Icon
January 23, 2023, 3:32 PM ET
Abigail Disney
Abigail Disney and other millionaires call upon Davos attendees for higher taxes.Michael Kovac / Contributor -Getty Images
Add Fortune on Google for similar content.

The ultra-wealthy aren’t typically known for asking to be taxed, but a group of 200 millionaires challenged that reputation with an open letter at the World Economic Forum in Davos last week.

Known as the Patriotic Millionaires, the group—which includes celebrity Mark Ruffalo and heiress Abigail Disney—called for a solution to end extreme wealth in a petition endorsed by PMUK, Tax Me Now, and Millionaires for Humanity. “You, our global representatives, have to tax us, the ultra rich, and you have to start now,” they said in a letter addressed to the leaders attending the Davos forum. 

It’s an echo of a similar open letter they sent to Davos attendees last spring. Citing the growing wealth inequality over the past 50 years, they noted that the world’s 10 richest men saw their wealth double during the pandemic, while 99% of the population watched their incomes shrink as they struggled to afford today’s cost of living. Indeed, a growing number of billionaires have been making out like kings over past few years.

Billionaires’ wealth has increased daily by about $2.7 billion ever since 2020, according to research from international poverty nonprofit Oxfam in conjunction with the Patriotic Millionaires. Meanwhile, poverty increased for the first time in half a century. Oxfam said imposing a 5% tax on multimillionaires and billionaires could raise $1.7 trillion annually, helping 2 billion people escape poverty.

Taxing the ultra-rich is “simple, common-sense economics,” the Patriotic Millionaires write in their letter. “It is an investment in our common good and a better future that we all deserve, and as millionaires we want to make that investment.”

They said that wealth inequality is tied to other dangerous extremes such as nationalism and climate change. They called upon those at Davos to address the “root cause of division,” adding that defending democracy is tied to creating a fairer economy.

“Extreme wealth is eating our world alive,” said Abigail Disney in a press release. “It is undermining our democracies, destabilizing our economies, and destroying our climate. But for all their talk about solving the world’s problems, the attendees of Davos refuse to discuss the only thing that can make a real impact—taxing the rich.”

The World Economic Forum did not immediately respond to Fortune’s request for comment. Disney has been a longtime critic of the systems that support the ultrarich, most recently blasting those who used private jets instead of opting to fly business class.  

But a growing group of billionaires is slowly promising to give away their fortunes. When asked by CNN if he planned to give away most of his wealth during his life, Jeff Bezos said, “Yeah, I do.” He recently endowed a $100 million gift to Dolly Parton to give to a charity of choice. Mackenzie Scott, Bezos’ ex-wife, has donated $12 billion in two short years.

Warren Buffett also plans to give away 99% of his wealth within 10 years of his death, possibly to every child across the globe. Along with Bill Gates and Melinda French Gates, he created the Giving Pledge, a campaign that some of the world’s richest people have signed as a promise to donate the majority of their fortunes to philanthropic causes.

Last year, Gates tweeted that he will one day “give virtually all my wealth” to the Bill & Melinda Gates Foundation. In a recent Reddit Ask Me Anything, Gates referred to chipping away at his wealth as a “full-time job.” While he said he wouldn’t ban any billionaires, he said he was “surprised” taxes hadn’t been increased.

But these promises of eventual charity aren’t fast and binding enough to address real-time wealth inequality, at least if you ask the Patriotic Millionaires. 

Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. Sign up here.

About the Author
By Chloe Berger
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Success

Mark Zuckerberg, wearing a white shirt, smiles. He is standing in front of a crowd.
SuccessMark Zuckerberg
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the ‘highest-quality beef in the world’ on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
10 hours ago
Chris Hulatt co-founder of Octopus Group
SuccessHow I made my first million
A 2-year taste of the office was enough to make 3 grads quit. Now they run a $13.2 billion investment firm: ‘We didn’t want a traditional job again’
By Orianna Rosa RoyleJuly 2, 2026
11 hours ago
Woman taking photo in scenic landscape
Successlifestyle
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
12 hours ago
Jason Lemkin
Successwork-life balance
This investor won’t back startups unless staff are in the office 6 days a week: ‘Not because I don’t have empathy, because they’re going to fail’
By Preston ForeJuly 2, 2026
12 hours ago
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
SuccessCareers
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
By Orianna Rosa RoyleJuly 2, 2026
20 hours ago
Trump’s 927-page disclosure is just a normal Tuesday for direct indexing and crypto wealth managers
InvestingDonald Trump
Trump’s 927-page disclosure is just a normal Tuesday for direct indexing and crypto wealth managers
By Catherina GioinoJuly 1, 2026
1 day ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
8 days ago
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
Success
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
By Orianna Rosa RoyleJuly 2, 2026
20 hours ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
10 hours ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
2 days ago
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
Success
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.