Nepal’s wealth gap deepens as Top 1pc control 24.5pc of national wealth

KATHMANDU: Nepal’s richest one percent hold 519 times more wealth than the poorest 50 percent of the population, highlighting extreme and deepening economic inequality in the country, according to a new report released by Oxfam International.

The report shows that while the poorest half of Nepal’s population controls just 4.7 percent of total national wealth, the richest one percent alone own 24.5 percent, underscoring what Oxfam describes as a “severe structural imbalance” in wealth distribution.

The findings come amid worsening living conditions for large sections of the population. Between 2019 and 2023, the number of people facing severe food insecurity in Nepal increased by 40 percent, with an estimated 36.6 percent of Nepalis currently experiencing food insecurity, the report states.

Growing Inequality, Rising Instability

Oxfam warned that the widening gap between the wealthy and the rest of society is creating serious political and economic risks.

“The growing gulf between the rich and everyone else is creating an extremely dangerous and unstable political environment,” said Amitabh Behar, Executive Director of Oxfam International.

He urged governments to implement effective progressive tax systems, curb the excessive influence of ultra-wealthy individuals, build stronger barriers between political power and private wealth, and adopt long-term plans aimed at reducing inequality.

Global Wealth Concentration Accelerates

The Nepal-specific findings are part of a broader global assessment that points to an unprecedented concentration of wealth among the world’s richest individuals.

According to the report, global billionaire wealth rose by more than 16 percent in 2025, reaching a record USD 183 trillion. This increase is three times higher than the average growth rate of the past five years, marking the fastest expansion of billionaire wealth in modern history.

Since 2020, billionaire wealth has surged by 81 percent, with USD 25 trillion added in the past year alone—an amount nearly equal to the total wealth held by 94 percent of the world’s population.

For the first time, the number of billionaires worldwide has crossed 3,000, while Elon Musk has become the richest individual in history, with a net worth exceeding USD 500 billion, the report states.

Political Power and Economic Influence

Oxfam warned that rising wealth concentration is translating directly into political power. According to the report, billionaires are 4,000 times more likely than ordinary citizens to hold political office, enabling them to shape policies and institutions in ways that protect and expand their wealth.

The report also highlights the growing control of billionaires over media outlets and social media platforms, allowing them to influence public discourse and policy debates while reinforcing their economic dominance.

“This concentration of economic and political power allows elites to rewrite the rules of the economy in their favor,” the report states, warning that democratic institutions are increasingly being undermined.

Report Released During Davos Forum

The report was released as the World Economic Forum’s annual meeting began in Davos, drawing attention to inequality as one of the most pressing global challenges facing governments, investors, and international institutions.

Oxfam said the timing was intended to confront global leaders and corporate executives with evidence that current economic systems are deepening inequality rather than reducing it.

The organization reiterated its call for wealth taxes, stronger regulation of political financing, fair wages, and expanded social protection systems to counter the accelerating concentration of wealth and its impact on democracy and social stability.