Billionaire wealth tax could prevent 29.5 million deaths by 2030

A study published in ‘The Lancet’ suggests that implementing a 3% tax on billionaire wealth could prevent up to 29.5 million deaths by 2030, particularly among vulnerable populations in low- and middle-income countries.

The research addresses a critical funding gap in humanitarian and development assistance. Official development assistance (ODA) has faced significant contractions, with major donors reducing aid in 2024 and 2025. If current defunding trends continue, modeling suggests approximately 7.6 million additional deaths could occur by 2030, including 1.4 million children under the age of five.

The study evaluated several redistribution policies. While a 1% wealth tax is estimated to avert 15.1 million deaths, a 3% tax offers the highest potential impact. Other effective measures include a tax on financial transactions, which could prevent 24.5 million deaths, and a global minimum tax for multinational corporations, which could prevent 20.1 million deaths. Researchers noted these figures are model-based estimates rather than direct predictions.