America’s billionaires just got a lot richer, and it’s not because they suddenly invented the next big thing. Since the 2025 Trump-GOP tax cuts kicked in, the collective wealth of the country’s 974 billionaires has ballooned by $1.96 trillion, a 31% jump in just 16 months. That’s the headline according to a new report released on Tax Day 2026 by Americans for Tax Fairness, and the numbers are staggering.

More than half of that growth, over $1 trillion, comes from just the top 15 billionaires alone. Meanwhile, the rest of the country is left scrambling to afford groceries, healthcare, and student loans. If you’re wondering who exactly is benefiting from this windfall, the answer is pretty simple: the ultra-wealthy, big corporations, and the politicians who wrote the rules.

The report doesn’t pull any punches, calling the One Big Beautiful Bill Act (OBBBA) a massive giveaway to those who already have more than enough. “The return of Donald Trump has been a boom for billionaires but a bust for average workers and families,” said David Kass, executive director of Americans for Tax Fairness. “Republican policies, like the One Big Beautiful Bill Act, keep giving more to those who already have a lot while taking from those with too little to spare.”

And who’s footing the bill? The rest of us. The law partially offsets its costs by slashing funding for Medicaid, nutrition assistance, and healthcare subsidies, leaving millions without coverage or food security. The report breaks down exactly who’s winning and who’s losing under these policies.