Democracy at risk in Davos: new report exposes big tech lobbying and political interference
We are pleased to launch a new report, World Economic Forum: Reining in the Extreme Power and Influence of the Tech Billionaires. Featuring new research from LobbyControl, and jointly published with Balanced Economy Project and Global Justice Now, is released to coincide with the annual gathering of the super-rich and political decision-makers in Davos. It highlights the excessive influence of corporations and their owners on the democratic process and calls for action.
Key facts
Just five partners of the World Economic Forum control 11 percent of global GDP amounting to €11.91 trillion, more than 168 countries’ national incomes combined.
Big Tech make up to 75 percent markups on their services and products.
Google, Amazon, Meta, Microsoft and Apple (GAMMA) top the list of companies for lobby spending in Europe. These 5 tech monopolies, all WEF partners, spend more than the top 10 companies in the financial sector or the automotive industry on lobbying.
In recent years, the tech industry as a whole has increased its lobbying expenditure from €97 million to €113 million in the EU.
The Musk problem
Among the top 10 richest people in the world are 5 tech billionaires. One of them, Elon Musk, is about to take up a senior political position in the US government following President Trump’s inauguration, and is also well positioned to influence EU politics through his company X. In December 2024 and January 2025, the South African tech billionaire spoke out in favour of right-wing parties in Europe: in Germany for the Alternative for Germany (AfD), and in the UK for the Reform Party and a far-right extremist, currently in prison, known as Tommy Robinson, but whose real name is Stephen Yaxley-Lennon.
A Wake-Up Call
The Elon Musk case must serve as a wake-up call to governments. With Donald Trump set to take office shortly, governments must reclaim powers to regulate the structural power of corporations and their wealthy owners. Europe has to take a leading role in regulating and breaking up tech monopolies and reining in the excessive influence of billionaires. The EU competition authority, the Directorate-General of Competition, can start this process by breaking up Google.
Europe, the UK and others cannot cower to pressure from Silicon Valley via Washington D.C., and must ensure that the numerous good digital laws already in place are effectively enforced against tech monopolies and their power. In addition, clear rules for transparency and against one-sided influence, for example by capping party donations, are urgently required.
To view and download the report, click here.