TJ (The Elephant
in the Room) will be at Am Hof 2, 1010 Vienna as a symbol of extreme wealth inequality in Austria
The Blue Elephant is an initiative of Millionaires for Humanity. It travels across Europe to highlight global inequality and the potential of a wealth tax to address inequality. The event on May 16th is a joint effort with Austrian-based Momentum Institute & German-based taxmenow.
The Forbes Billionaire List
is a slap in the face of society
The annual publication of the Forbes Rich List tells us what we already suspected – that a certain privileged segment of the global population has done extremely well from COVID. While most people around the globe have struggled to adapt and survive the pandemic, many having lost their jobs, plunged deeper into poverty, those on the Forbes rich list have been able to sit back and watch their wealth soar.
Millionaires for Humanity wants a world where every person can live to their potential. We want a world where democratic processes work and reflect the wishes of the people – not the wishes of the few people with the most money. This is a reminder that we have work to do and that there has never been a better time to introduce taxes on wealth.
Why did Millionaires
for Humanity start?
We share a vision of a fair and sustainable world. Billions of people remain trapped in poverty, without access to basic services. The COVID-19 crisis has greatly exacerbated these challenges, setting back progress toward the Sustainable Development Goals. Inequality is widening, undermining social mobility and social cohesion. The world has entered a critical juncture, in which business as usual solutions are not enough.
Driven by values of courage, equality and fairness, we recognise the urgency of now. All of us who have come together as Millionaires for Humanity remain involved in philanthropy and are proud of the contribution that it makes. However, we recognise the need to go beyond philanthropy: charity alone, no matter how generous and how smart, is not enough.
Meet some of the millionaires who support a wealth tax
Co-founder and CEO of ODA, Norway´s largest online grocery store.
Board member of the Trottier Family Foundation
Founder of Covent Capital, an independent Dutch investment company
Millionaire heiress, appears in the public under a pseudonym.
Successful business leader, entrepreneur, and venture capitalist.
Former interest rate trader at City Bank. Made millions betting against trickle-down economics.
‘Millionaires for Humanity’ Sign On Letter
As COVID-19 strikes the world, millionaires like us have a critical role to play in healing our world. No, we are not the ones caring for the sick in intensive-care wards. We are not driving the ambulances that will bring the ill to hospitals. We are not restocking grocery store shelves or delivering food door to door. But we do have money, lots of it. Money that is desperately needed now and will continue to be needed in the years ahead, as our world recovers from this crisis.
Our call has been backed by influential global leaders
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!
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.
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.
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.
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.
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.
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
Who we are
Millionaires for Humanity is a collaboration of high-net-worth individuals committed to going beyond philanthropy. We advocate the systemic change needed to meet the Sustainable Development Goals. We are based across the world.
Our work is guided by an advisory board of international experts. Our secretariat is hosted by Human Act, a foundation based in Copenhagen and registered under Danish law.
Find out more about Human Act, here
Meet the Millionaires for Humanity here
Meet the founder of Millionaires for Humanity here
See the Millionaires for Humanity brief
Article database about wealth taxes from around the world brief