Hundreds protested in Davos ahead of President Trump’s visit to the World Economic Forum, an annual gathering of global business elites. It comes as Oxfam released a report Monday warning that the collective wealth of billionaires hit a record $18.3 trillion and that the total number of billionaires surpassed 3,000 for the first time in history last year. Oxfam also reports that highly unequal countries are seven times more likely to experience the erosion of the rule of law and the undermining of elections. This is Oxfam’s executive director, Amitabh Behar.

Amitabh Behar: “But the real story is also about how these billionaires are not content enough with being super rich. Now they’re buying political power. So, they’re buying elections. They’re buying media houses. And what you’re eventually seeing is a rise of oligarchy. So, these few billionaires control politics, policies and narratives.”