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Oxfam: $3.55T Offshore Wealth Untaxed
- On Thursday, April 2, 2026, Oxfam International released a report marking the 10th anniversary of the Panama Papers, revealing that the richest 0.1% hold $3.55 trillion in untaxed offshore wealth, exceeding the combined assets of the poorest 4.1 billion people.
- Within this elite group, the richest 0.1% hold approximately 80 percent of untaxed offshore assets, or around $2.84 trillion, while the ultra-wealthy 0.01% control roughly half that amount, at $1.77 trillion.
- "When millionaires and billionaires stash trillions of dollars in offshore tax havens," said Christian Hallum, Oxfam International's Tax Lead, "they place themselves above the obligations that bind the rest of society."
- Oxfam demands governments implement progressive wealth taxes on the top 1% and establish a global asset register to track billionaire fortunes, strengthening cooperation under the UN Framework Convention on International Tax Cooperation.
- While the Automatic Exchange of Information system has reduced untaxed offshore wealth in recent years, progress remains uneven as most countries in the Global South are excluded from the transparency initiative.
36 Articles
36 Articles
According to a study Oxfam, the 0.1% richest in the world hides from the tax authorities an patrimony equivalent to that of the poorest half of humanity
A new analysis published by Oxfam sheds light on the thousands of billions of dollars still hidden in tax havens, despite the reforms undertaken since 2016.
Common Dreams
oxfam.orgUntaxed wealth hidden offshore by richest 0.1% surpasses entire wealth of the poorest half of humanity
The amount of untaxed wealth hidden offshore by the richest 0.1 percent exceeds the entire wealth of the poorest half of humanity (4.1 billion people), reveals new Oxfam analysis published today ahead of the 10th anniversary of the Panama Papers. The findings show that, a decade later, the super-rich continue to exploit offshore systems to evade taxes and conceal assets, highlighting the urgent need for coordinated international action to tax ex…
That's more than France's GDP.
In 2024, 3.550 billion dollars were held by the super rich in tax havens or undeclared offshore bank accounts, avoiding any form of tax withdrawal. A sum equal to once and a half the GDP of Italy, twice the aggregate GDP of the 44 poorest countries in the world. It means that the offshore wealth of the 0.1% richest global has exceeded that possessed by the poorest half of humanity.
The "Panama Papers" reveal one of the largest financial scandals in the world in 2016: the systematically hidden assets of the super-rich. So far, not much has changed. "The problem persists and we all pay the price," Oxfam criticises.
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