For Humanity
Millionaires in Support of Wealth Tax
For centuries, wealth has concentrated in the hands of a few, leading to a widening gap between the rich and the poor. This concentration has often been fueled by systemic advantages, policy decisions, and economic structures that favor wealth preservation and growth for the affluent.
As multimillionaires ourselves, we have witnessed firsthand how the mechanisms of wealth accumulation operate. We recognize that while wealth can be a tool for positive change, it also comes with a responsibility to address the disparities it creates.
What Millionaires for
Humanity do
Millionaires for Humanity is dedicated to advocating for a fairer economic system through impactful campaigns. Our signature Blue Elephant symbolizes the “Elephant in the room” and highlights the urgency of addressing wealth inequality.
We engage in various initiatives, including petitions and sign-on letters directed at politicians and the media, to raise awareness and demand action on wealth taxation and social justice.
By mobilizing the voices of wealthy individuals who support equitable policies, we aim to inspire meaningful change and foster a more just society.
Why a Wealth
Tax?
Research by the UN Sustainable Development Solutions Network highlights a significant funding gap required to meet the SDGs. A 1% wealth tax on multimillionaires could raise substantial resources to bridge this gap, enabling transformative changes in society.
The Impact We Envision
The funds raised from a wealth tax could transform our world. Imagine:
Healthcare for All: Ensuring that every person has access to essential health services, reducing preventable deaths and improving quality of life.
Quality Education: Providing resources for schools and teachers, so every child has the opportunity to learn and thrive.
Climate Action: Investing in renewable energy, conservation, and climate resilience projects to protect our planet for future generations.
Poverty Alleviation: Supporting social safety nets, affordable housing, and job creation programs to lift people out of poverty.
These are not just dreams but achievable goals if we act together. The wealth tax is a simple, fair, and effective tool to mobilize the resources needed to build a better world.
Meet some of the millionaires who support a wealth tax
Former interest rate trader at City Bank. Made millions betting against trickle-down economics.
Our call has been backed by influential global leaders
Julia Sánchez
Tax justice is fundamental for tackling global poverty. And taxing the wealth of the richest people is key to that. When rich people themselves make that case, as Millionaires for Humanity is doing, it makes it harder for leaders to ignore. Let’s do this!
Carlos Lopes
To get out of this crisis we have to break from old orthodoxies. We need to invest in dynamic public services and, as part of that, the wealth of the richest people can no longer be left untaxed. When even millionaires recognise that wealth taxes are needed, and speak out publicly, it makes clear how broad is the movement for a more just and balanced economy, and that the moment is now.
Diego Sánchez-Ancochea
Inequality is one of the challenges of our time. Case after case shows extreme inequality hurts economies, weakens democracies and destabilizes societies. Millionaires for Humanity’s commitment to more just societies, and its call for a new wealth tax is showing us all how to get away from the spiral of inequality and insecurity, and move towards solidarity, justice, shared prosperity and a new world. In the post-COVID world, their agenda is more important than ever.
Gabriel Zucman
We need a new tax – a progressive wealth tax – to strengthen the social contract and to reduce rampant inequality. Campaigns like Millionaires for Humanity are key to enabling this change.
Helen Clark
For the world to meet the Sustainable Development Goals, we’ll need quality universal services and fair taxation. This will require a greater contribution from the people who have prospered the most. It’s a powerful message when even some of the wealthiest people are speaking out, supporting the call for people like them to pay more.
Mogens Lykketoft
We rarely hear people among those with the highest incomes and fortunes request to be allowed to pay more taxes for the common good. But that is what Millionaires for Humanity is all about. It is an appeal for compassion and solidarity. This is why Millionaires for Humanity is such an extremely important initiative.
Amanda Khozi Mukwashi
As all the great faith traditions remind us we cannot separate economic issues from ethical ones. We cannot accept extreme poverty in a world of great wealth. To rebuild from our interconnected crises, we will need the rich to contribute more – not only in giving but in tax. Millionaires speaking out in support of taxing people like them can help leaders understand that tax justice is a cause for all.
António Guterres
We are seeing some of the richest men [and women] in the world saying that they are not paying enough taxes – that it is totally unfair. So, some rich people are understanding that this is becoming dangerous for everyone. That inequality brings instability, which is dangerous to everyone
About Millionaires for Humanity
Millionaires for Humanity is a collective of high-net-worth individuals from across the globe, committed to more than just philanthropy. We strive for systemic change to meet the Sustainable Development Goals.
Our members are diverse in background and geography, united by a shared commitment to social justice and sustainability.
Our secretariat is hosted by Human Act, a foundation based in Copenhagen and registered under Danish law. Together, we leverage our resources, influence, and networks to advocate for a fairer world.
Learn more about Human Act
Meet the Founder of Millionaires for Humanity here
Latest news from our world
Colombia’s President Proposes More Tax Hikes on Wealthy Colombians
Bloomberg / September 12, 2024
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