Adnate x Oxfam 'Tax the Super-Rich' Mural in Fitzroy. Photo: Oxfam
Tax the super rich
While everyday Australians struggle, the super rich continue to accumulate hoards of wealth.
Australia now has its highest number of billionaires on record – 178.
In 2026, the total wealth of Australian billionaires is nearly $700 billion. The 20 richest Australians hold more wealth than the bottom three million households.
Every billionaire is a policy failure. The very existence of booming billionaires is evidence of an economic system that fails to deliver for humanity.
This bumper year for billionaires, whose staggering wealth grows by $50,000 per minute, comes at a time of ongoing cost-of-living crisis, with millions of households struggling with rising rents, grocery prices and energy bills. We cut back, while billionaires accumulate extraordinary wealth at extraordinary speed.
The existence and rapid growth of billionaires and the super rich is a sign of an economy where too much wealth and power are concentrated in too few hands.
We must challenge the tax system that even allows such hoarding of wealth. Demand the government tighten the tax rules and enforce them properly.
