Global leaders at Davos are being urged by mega-rich individuals to implement a wealth tax.

• On Wednesday, over 250 billionaires and millionaires reiterated their demand for elected officials from the world's leading economies to impose higher taxes on the wealthiest individuals in society.
• In a letter to political leaders attending the annual World Economic Forum in Davos, Switzerland, the wealthy signatories made it clear that they wanted to convey a message: "Impose taxes on our excessive wealth."
• Since 2020, the world's five wealthiest men have more than doubled their already substantial fortune, and Oxfam has warned that the world could see its first trillionaire within the next ten years.

On Wednesday, over 250 billionaires and millionaires renewed their demand for elected officials from the world's top economies to impose higher taxes on the wealthiest individuals.

In a letter to political leaders at the annual World Economic Forum in Davos, Switzerland, wealthy signatories expressed their desire to convey a clear message: "Impose taxes on our excessive wealth."

The letter expressed surprise that we had not answered a basic question we had been asking for three years: when would we implement a wealth tax.

We request that you impose taxes on the wealthiest individuals in society. This will not negatively impact our standard of living or harm our children's future. However, it will transform excessive and unproductive private wealth into a resource for our shared democratic future.

The letter "Proud To Pay More" has 17 signatories from various countries, including Disney heir Abigail Disney, screenwriter Simon Pegg, and Valerie Rockefeller, an heir to the renowned U.S. family.

Since 2020, the five wealthiest men in the world have more than doubled their already substantial fortune, and Oxfam has cautioned that the world could see its first trillionaire within the next ten years.

If current trends continue, poverty will not be eradicated for another 229 years, the charity stated on Monday.

Billionaires are using their immense wealth to gain political power and influence, while simultaneously damaging democracy and the global economy, according to Brian Cox, who played the character of a billionaire in "Succession" and is a signatory to the Proud to Pay More letter.

If elected officials fail to address the concentration of money and power, dire consequences will result, as Cox stated.

An open letter published alongside a new poll by Survation on behalf of "Patriotic Millionaires" revealed that some of the world's wealthiest individuals support higher taxes on their income.

Over 2,300 wealthy respondents from G20 nations with more than $1 million in investable assets, excluding their homes, were surveyed. This puts them in the top 5% in terms of wealth.

A survey revealed that 74% of respondents support higher taxes on wealth to tackle the cost-of-living crisis and enhance public services, while three quarters of respondents back a 2% wealth tax on billionaires, and more than half (54%) believe that extreme wealth concentration poses a threat to democracy.

Populism is becoming increasingly popular worldwide, with Abigail Disney stating that it is a result of extreme discontent.

The solution to safeguarding our institutions and maintaining our nation is known: through taxing immense wealth. However, what is lacking is the political resolve to implement it. Even affluent individuals like myself are advocating for it. The wealthy elite attending the Davos conference must address this crisis with urgency.