On Thursday, February 13, Pope Francis will host a historic global event to discuss the creation of a tax on large fortunes, specifically targeting the super-rich—the few hundred individuals who possess wealth exceeding $1 billion. The event, held at the Vatican, is not just a meeting of economic experts but a milestone in the fight for tax justice, income redistribution, and the financing of global public policies that can foster a more equal world, focusing on issues like poverty reduction, climate change, and investments in health and education.
The event, titled “Tax Justice and Solidarity: Towards an Inclusive and Sustainable Common Home,” is being promoted by a coalition of global leaders, renowned economists, and social organizations advocating for progressive tax reform. The central proposal is the implementation of a wealth tax, so that the wealthiest individuals contribute more to society, helping finance essential public services and sustainable development investments. The initiative seeks to reverse the current concentration of wealth and promote greater economic equity at a critical time when social disparities have never been more evident.
The Vatican event is set to be a landmark in the global debate on taxation. In addition to Pope Francis, several political leaders and prominent economists have already expressed their support for the initiative. Among the confirmed names are Thabo Mbeki, former president of South Africa; Aminata Touré, former prime minister of Senegal; renowned economist Joseph E. Stiglitz, Nobel laureate in Economics; and Gabriel Zucman, an economist who has been one of the leading advocates for taxing large fortunes, particularly in the context of global discussions led by the G20. These experts have emphasized the urgent need for adopting more progressive fiscal policies that can redistribute wealth and finance social projects essential for the survival and prosperity of vulnerable populations.
Among the leaders supporting the proposal are Spain’s Prime Minister Pedro Sánchez and South Africa’s President Cyril Ramaphosa, both of whom have already sent messages of support for the cause. Brazil’s President Luiz Inácio Lula da Silva has also joined the movement, expressing his solidarity with the event and with the principles advocated by Pope Francis. According to unofficial information, Lula is expected to send a recorded message during the event, reiterating his support for taxing the super-rich as a way to finance social policies, combat hunger, and address climate change.
The event comes at a time of increasing pressure for the world to adopt fiscal reforms that favor wealth redistribution. According to the Vatican, the discussions at the event are highly relevant, as the current scenario is one of growing influence of the ultra-rich in political decisions. Many of these billionaires have used their economic power to undermine international cooperation, making it difficult to create more equitable and progressive public policies, especially those focused on global tax reform.
On social media, event organizers have been running campaigns to raise public awareness about the need for fairer taxation, using hashtags like #TaxTheSuperRich and #TaxThePower, aiming to highlight that the super-rich, while holding an exorbitant amount of wealth, pay proportionally less in taxes than most of the global population. These campaigns stress the urgency for a change in the global tax system, which currently allows billionaires to exploit tax loopholes to preserve their fortunes instead of contributing to social well-being and fighting inequality.
Although the idea of taxing the super-rich has gained traction, especially during Brazil’s presidency of the G20 last year, where the issue was formally discussed, it still faces resistance in countries like the United States, where the government of Donald Trump and allies in Congress oppose any form of tax reform that could affect the interests of the wealthiest. However, leaders like Pope Francis and Lula believe that taxing the super-rich is not just an economic issue, but a moral imperative, necessary to ensure a fairer and more sustainable future for all.
During the Vatican event, economist Gabriel Zucman is expected to present a concrete proposal: the creation of a 2% annual tax on the wealth of all billionaires in the world, estimated at about 3,000 individuals. According to Zucman, this measure would generate approximately $250 billion in new revenue, which could be used by governments to finance initiatives in health, education, infrastructure, and climate change mitigation—areas where global needs are growing and investments remain insufficient.
Zucman, who was one of the key figures behind the technical studies presented to the G20 during Brazil’s presidency, believes that implementing this tax is one of the most viable solutions to combat income disparities. In an interview, he emphasized that Pope Francis’s participation in the event could have a significant impact on creating a global understanding of the need for fairer taxation. “Pope Francis has a unique moral authority, and by actively engaging in these debates, he can accelerate the process of building international consensus on practical solutions to inequality and tax injustice,” said Zucman.
Throughout his pontificate, Pope Francis has been a strong advocate for social justice and the need for economic policies that promote solidarity and the common good. In his statements, he has frequently emphasized the need for a more inclusive economy capable of ensuring dignified living conditions for all, not just for the few privileged who hold most of the world’s wealth. The Pope believes that progressive taxation on large fortunes is a crucial step in ensuring that the wealthy pay their fair share and contribute to building a more just and sustainable world.
Additionally, today’s event at the Vatican will also seek to engage participants in discussions about the role of multinational corporations and the impact of their tax evasion on global inequality. The meeting aims to lay the foundation for stronger international cooperation and the creation of fiscal policies that reduce wealth concentration and promote a sustainable economic development model. The event’s final statement is expected to outline a set of practical recommendations for implementing tax reforms, focusing on the taxation of billionaires and large corporations, and seeking the support of governments, international organizations, and social movements for the adoption of these proposals.
This event, by positioning the Vatican as a center for discussions on global economic issues, reinforces the growing concern over social inequalities and the role that religious and international institutions can play in promoting social justice. As the debate over taxing the super-rich intensifies, the event could serve as a catalyst for significant changes in global fiscal policies, with tangible benefits for poverty reduction, climate change mitigation, and financing a more inclusive future.
Pope Francis, with his moral leadership, continues to draw attention to the need for a global economy that places human dignity and solidarity at the center of economic policies, striving for a world where inequalities are overcome, and resources are used for the benefit of all.
