Colombia ranks as the fourth country in Latin America and the Caribbean with the highest concentration of wealth in the hands of very few, according to a recent report by the organization Oxfam, presented at the World Economic Forum in Davos, Switzerland.
This figure, analyzed by academics and social leaders, reflects a reality that penetrates economic, political, and cultural structures and has evident consequences in the lives of millions of people. Oxfam’s warnings point to profound effects that compromise both social cohesion and the quality of democracy in Colombia.
The data are striking. The report revealed that four people in Colombia amass close to US$42 billion, a figure that contrasts with millions of citizens facing poverty, labor informality, and persistent difficulties in accessing basic services such as education or health care.
In concrete terms, an average millionaire in Colombia can earn in minutes what a working person makes in an entire year. This gap not only defines economic inequality; it redefines the life opportunities of entire communities.
Colombia ranks fourth in wealth concentration in Latin America
Oxfam warns that the extreme concentration of wealth has direct impacts on democracy. When colossal resources are concentrated in a few hands, that economic capacity translates into disproportionate political influence and ultimately weakens public institutions.
This influence, the authors of the report emphasize, is not always visible at first glance, but it seeps into fiscal decisions, public policies, and the legislative agenda. The tangible result is a widespread perception that the state governs more for the privileged than for the majority of the population, fueling public distrust and undermining the legitimacy of the system.
“Extreme wealth concentration puts democracy at risk. When economic power translates into political influence, institutions are weakened, and the perception grows that the state governs for a few,” said Jenny Gallego, head of Oxfam Colombia’s Influencing Program in Davos.
Evidence of these effects is also reflected in the way economic power is managed in Colombia. Interest groups with significant resources enjoy privileged access to decision-making spaces, which, according to criticism from social sectors, promotes laws and regulations that favor wealth accumulation rather than its equitable distribution.
In a self-reinforcing cycle, those same structures of financial and political power tend to reproduce conditions that benefit them, consolidating practices that distance ordinary citizens from the possibility of influencing decisions that affect their daily lives.
3K billionaires control $18.3 trillion, and this concentration of wealth is reshaping democracy itself. Billionaire money changes who gets heard, who decides, and who gets left behind.
Read the evidence: https://t.co/yNhJVW5KUR #RuleOfTheRich #FightInequality #TaxTheSuperRich pic.twitter.com/4nIGyBoPnp— Oxfam International (@Oxfam) January 19, 2026
A tax system that deepens inequality
Another aspect highlighted by the Oxfam report is Colombia’s tax system, described as regressive. This means that people with lower incomes end up paying proportionally more in taxes than large fortunes and corporations. While workers and small- and medium-sized businesses bear a significant tax burden, economic elites resort to mechanisms that allow them to preserve and even increase their wealth.
Among these are strategies to transfer capital abroad, the use of debt and interest to reduce tax liabilities, and, above all, more than 290 tax benefits that are not periodically evaluated, many of which are maintained due to corporate pressure rather than their impact on the real economy.
This tax design not only reduces the resources available for social spending but also limits the state’s capacity to invest in education, health care, and basic services, fundamental pillars for reducing structural inequalities. In a country where access to these services remains unequal, the lack of progressive tax collection deepens the gaps between those who can afford quality education and private health care and those who depend exclusively on the public sector.
The implications of this concentration of wealth go beyond the economic sphere. In Colombia, inequality has a direct impact on social cohesion and opportunities for mobility. Segments of the population face structural conditions that limit their access to formal employment, decent working conditions, and full participation in the country’s economic life.
This disparity not only fuels social discontent but also opens space for political discourse and projects that promise quick solutions, often simplistic or polarizing, putting democratic principles and the rule of law at risk.
In an electoral context such as the one Colombia is experiencing in 2026, these tensions take on special relevance. Political campaigns and public debates are under the scrutiny of citizens who are increasingly aware of the gaps they face.
Economic inequality and its effects on political representation, the quality of public services, and perceptions of social justice constitute, for many analysts, defining issues of the upcoming electoral contest.
The Oxfam report does not stop at diagnosis, but also proposes ways to address the problem. The recommendations include deep fiscal reforms aimed at fairer tax collection, the reduction of unjustified tax benefits, and the implementation of public policies that strengthen redistribution mechanisms.
According to the organization, an adequate tax reform could increase public revenue by up to 4% of regional gross domestic product, a significant resource to finance essential public services and programs that reduce poverty and inequality.