G20 Meeting to Look at Introducing Wealth Tax for Billionaires

The United States is home to 813 billionaires collectively worth $5.7 trillion, according to Forbes.

Elon Musk, CEO of SpaceX and Tesla and owner of X, looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, Calif., on May 6, 2024. David Swanson/Reuters

JOHANNESBURG—A plan to raise taxes on the wealth of the world’s 3,000 billionaires will be top of the agenda at the next meeting of the G20 group of major economies in Brazil on Nov. 18.

America’s super-rich are key targets of the “global wealth tax,” with financial experts accusing them of using loopholes to avoid paying their fair share of taxes.