Nearly 400 millionaires and billionaires from 24 countries have chosen the World Economic Forum in Davos as the stage to deliver a blunt message to political and business elites: tax us more, and use that money to repair the social contract. Their open letter argues that extreme wealth is not a private achievement to be quietly enjoyed, but a structural risk to democracy, social cohesion, and the climate if it remains lightly taxed.
Instead of lobbying for loopholes, these signatories are asking governments to close them, insisting that higher taxes on the ultra rich are both morally necessary and economically stabilizing. They frame their demand not as charity but as a call for rules that prevent a small group from accumulating “extreme control” over politics, media, and technology at everyone else’s expense.
The Davos letter that turns the usual script upside down
The intervention is organized through the campaign platform Proud to Pay More, which addresses “global leaders gathering at Davos” and asks why they have failed to answer a simple question about taxing extreme wealth for a “common democratic future.” In the open letter, nearly 400 millionaires and billionaires from 24 countries urge those leaders to “tax us” and “tax the super rich,” arguing that their fortunes are possible only because of public institutions and should therefore contribute more to sustaining them, a message amplified as the world’s wealthiest arrive in Davos for the World Economic Forum. The signatories describe themselves as “millionaires who stand shoulder to shoulder with all people,” insisting that higher taxes on their own assets are a prerequisite for tackling raging inequality.
The language is unusually direct. One version of the appeal declares that “Millionaires like us refuse to be silent. It is time to be counted. Tax us and make sure the next fifty years meet the promise” of shared prosperity, while another warns that “extreme wealth has led to extreme control for those who gamble with our safe future for their obscene gains.” The letter, circulated under banners such as Davos and Millionaires for Humanity, is explicit that voluntary philanthropy is no substitute for binding tax rules. It urges governments to use progressive levies on large fortunes to fund public services and climate action, rather than relying on the goodwill of the very people who benefit most from the current system.
Who these “proud to pay” millionaires are
The list of signatories is not confined to anonymous financiers. It includes high profile cultural figures such as Mark Ruffalo, Brian Eno, and Abigail Disney, who have lent their names to multiple calls for higher taxes on the rich. Reporting on the campaign notes that Signatories such as Mark Ruffalo, Brian Eno, and Abigail Disney argue that extreme wealth is “polluting politics,” driving social exclusion, and worsening the climate emergency. Another account highlights how Mark Ruffalo and Brian Eno have publicly called for higher taxes on the rich at Davos, reinforcing the message that those who have benefited from the system see it as unsustainable in its current form.
Abigail Disney, described as a Walt Disney heiress, documentary filmmaker, and co founder of Millionaires for Humanity, has long argued that genuine democracy requires wealth taxes on people like her. In a briefing for Millionaires for Humanity, she frames this as a matter of basic fairness, saying that a functioning society means accepting robust taxation on large fortunes. The current Davos letter builds on that stance, with “Millionaires like us” refusing to be silent and explicitly inviting governments to raise their tax bills, as captured in the appeal to Millionaires who are willing to pay more.
What the signatories say extreme wealth is doing to democracy
Behind the dramatic rhetoric is a specific diagnosis of how concentrated wealth distorts politics. A poll of affluent individuals cited by campaigners found that “nearly 80 percent” of millionaires believe the super rich buy political influence, and that “Nearly 400 millionaires from 24 countries” including Mark Ruffalo, Brian Eno, and Abigail Disney see this as a direct threat to fair elections. The same research warns that the richest can “significantly influence election outcomes,” a concern echoed in the Davos letter’s claim that extreme wealth has produced extreme control over public life. For the signatories, this is not just an abstract worry about corruption but a structural feature of a system that allows vast fortunes to be deployed in lobbying, campaign finance, and media ownership.
Several reports on the campaign stress that the group of “Nearly 400 millionaires and billionaires” views this influence as corrosive to democracy itself. One summary notes that Nearly 400 m signatories see the current level of political capture as unsustainable, while another describes how “Extreme wealth has led to extreme control for those who gamble with our safe future for their obscene gains. Now is the time to end that.” In that framing, higher taxes on the ultra wealthy are not just a revenue tool but a way to dilute outsized power, reduce the ability of a small group to shape laws in their own interest, and restore some balance between private money and public decision making.
From inequality to climate: why they say higher taxes are urgent
The Davos appeal links extreme wealth to a series of overlapping crises, from inequality to environmental breakdown. The signatories argue that fortunes measured in billions are accumulating while public services strain and the climate emergency accelerates, and they present higher taxes on the ultra rich as a way to fund both social protection and decarbonization. One account of the campaign notes that “Nearly 400 millionaires and billionaires” have signed an open letter urging governments to use such taxes to address rising inequality and “accelerating environmental harm,” a message summarized in coverage under the banner Wealthy Call for on the Super Rich.
Other reports emphasize that these “Nearly 400 wealthy individuals” are not just calling for symbolic measures but for concrete increases in tax rates on the world’s richest people. One summary describes how nearly 400 wealthy individuals urged leaders at Davos to impose higher taxes on the super rich, while another notes that “Almost 400 billionaires and millionaires from 24 countries” have signed an open letter urging leaders to increase taxes on the world’s wealthiest people. A video report reiterates that “Almost 400 billionaires and millionaires from 24 countries” including the actor Mark Ruffalo are backing this call, underlining that the demand is global rather than confined to a single tax jurisdiction.
How the campaign is organized and why it targets Davos
The letter is part of a coordinated effort by networks such as Millionaires for Humanity, Oxfam, and the Proud to Pay More initiative to put tax justice on the Davos agenda. A social media post from The Wire notes that “Nearly 400 millionaires and billionaires from 24 countries across the world” have called on global leaders to tax the super rich in a joint initiative by Patriotic Millionaires, Millionaires for Humanity, and Oxfam. Another account explains that “Nearly 400 millionaires from 24 countries” have urged higher taxes on the ultra wealthy to curb political influence and address inequality, describing this as a response to the perception of extreme wealth as a threat to democracy. The choice of Davos is deliberate, since it brings together the very political and corporate leaders who can change tax rules, and the very billionaires who benefit from the current ones.
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*This article was researched with the help of AI, with human editors creating the final content.
Julian Harrow specializes in taxation, IRS rules, and compliance strategy. His work helps readers navigate complex tax codes, deadlines, and reporting requirements while identifying opportunities for efficiency and risk reduction. At The Daily Overview, Julian breaks down tax-related topics with precision and clarity, making a traditionally dense subject easier to understand.
