Millionaires deliver projection onto IMF and World Bank buildings ahead of G20 Finance Ministers Meeting demanding support for international action to tax the super rich
Their message is clear - the world is in crisis and now is the time to act: tax us the super rich, we are proud to pay more!
As G20 Finance Ministers’ meet during the World Bank/IMF Spring Meetings, Patriotic Millionaires have a message for them - tax us, the super-rich, or face further catastrophic consequences to our democracies and our planet.
The video and images were broadcast onto key financial buildings across the city, including the International Monetary Fund and World Bank.
This is the second time G20 Finance Ministers have met since Brazil took on the Presidency of the G20 this year. Their first meeting, in February 2024, saw both the Brazilian and French Finance Ministers publicly support an initiative to set international standards on how to tax the super rich. This initiative, proposed by Gabriel Zucman from the EU Tax Observatory, now needs to gain additional public support from other G20 Finance Ministers, which is the core message at the centre of the projection.
Patriotic Millionaires member and founder of Ecotricity Dale Vince, said: “There are 3000 billionaires in the world with a combined wealth of an eye-watering $14 trillion. That's the GDP of 150 countries combined! We urgently need a plan of action from the G20 that ensures the wealthy pay their fair share. Through this projection we hope G20 Finance Ministers recognise that there’s nothing to stop them from getting on with the job.”
Patriotic Millionaires is an international group of 300 millionaires across the globe, demanding to be taxed more. It includes high-profile names such as Abigail Disney, Morris Pearl (former managing director at BlackRock), founder of Ecotricity Dale Vince, musician Brian Eno, and former City trader and author Gary Stevenson. The group advocates for action on extreme wealth inequality which it states is threatening democracy, damaging to the economy, and jeopardising the stability of the planet. In a poll of 2385 millionaires from G20 countries it released earlier this year, 75% of respondents supported higher taxes on the super rich, and over half said that extreme wealth is a threat to democracy.
Investor, entrepreneur, and member of Patriotic Millionaires UK Gio Notarbartolo said: “This is a big year for elections across the world and it’s no coincidence that as inequality grows so does the lurch to more extreme political solutions. The G20, and all those in positions of power, need to face this head on; they need to tax us, the super rich, reduce inequality, and safeguard democracy.”
Key Figures
There are now 2,781 global billionaires worth a staggering $14.2 trillion. It’s the combined GDP of 150 countries
Billionaires are about $2 trillion richer than last year and $1.1 trillion richer compared to the previous record set in 2021.
Since 2005, in nominal terms, billionaire wealth increased by 545%
The EU Tax Observatory proposed a 2% tax on billionaires in its flagship report in 2023, which would raise $250 billion every year
In a poll of G20 millionaires, 72 percent think that extreme wealth helps buy political influence, 54 percent think that extreme wealth is a threat to democracy, and 75% support the introduction of a 2% tax on billionaires
For more information and interviews, please contact Rebecca Gowland rgowland@patrioticmillionaires.org, +44 (0)7968821093
Spokespeople available for interview include -
UK: Founder of Ecotricity and member, Dale Vince; engineer, former consultant, and member Phil White
US: former MD at Black Rock and Chair of Patriotic Millionaires Board, Morris Pearl
Notes to editors
Stills of ‘Tax the super rich’ Patriotic Millionaires projection
Video of ‘Tax the super rich’ Patriotic Millionaires projection
Access the summary of the G20 survey on attitudes to extreme wealth and taxation of those with more than $1 million. 2,385 people aged 18 and over were surveyed by Survation between 4-16 December 2023 across G20 countries.