Overview

• Brazilian President Lula da Silva is advocating for a 2% annual tax on the net worth of billionaires at the G20 Summit in Rio de Janeiro.
• The proposed tax aims to generate up to $250 billion annually to combat global inequality and climate change, particularly benefiting low-income countries.
• Resistance to the wealth tax comes from nations like the United States, where political leaders express skepticism about its feasibility.
• The summit agenda also includes the launch of the Global Alliance Against Hunger and Poverty, with 31 countries already committed.
• Geopolitical issues such as the Ukraine and Gaza conflicts and the impact of Donald Trump's reelection are expected to influence discussions.