At Davos, Trump Boasts That His Policies Have Enriched the Wealthy — Critics Call It Tone‑Deaf

President Donald Trump used a reception with CEOs at the World Economic Forum in Davos to openly celebrate how his administration has benefited wealthy investors and business leaders, drawing fresh criticism that his remarks are out of touch as many Americans struggle economically.

Context and Responses

California Gov. Gavin Newsom appeared at Davos urging the global elite to oppose Trump’s agenda, a point mocked in advance by MAGA commentator Katie Miller. But while Newsom called on attendees to push back, Trump spent his appearance at the forum boasting about ties to wealthy figures and how his policies have helped them prosper.

Key Remarks

At a reception with executives, Trump told the crowd,

“So I think in terms of your investments, you’re in great shape. I don’t even ask anybody how you’re doing now. It’s like everybody is making so much money.”

He added that many business leaders had doubled their net worth during his presidency and recounted an anecdote about a wealthy acquaintance who bought an airplane he never used largely to claim a tax deduction — an example Trump cited as evidence of the success of a domestic package he calls the “Big Beautiful Bill.”

Why Critics See This As Problematic

Analysts say the U.S. recovery is increasingly “K‑shaped,” with high earners and asset holders recovering faster than middle‑ and lower‑income households. Oxfam’s recent inequality report found billionaire wealth grew well above recent averages, and a recent CNN poll showed roughly seven in 10 Americans describe the economy as “poor.”

Members of the Trump administration and other attendees listen to U.S. President Donald Trump's remarks during the 56th annual World Economic Forum (WEF), in Davos, Switzerland, on Wednessday. - Jonathan Ernst/Reuters

Against that backdrop, critics say Trump’s tone at an elitist gathering — and the emphasis on tax breaks that disproportionately help owners of capital — risks appearing out of touch with voters worried about wages, prices and housing costs.

Other Administration Comments That Raised Eyebrows

Trump’s remarks followed other controversial comments from administration officials. Treasury Secretary Scott Bessent, discussing a proposal to restrict institutional investors from buying single‑family homes, defended the policy by saying “mom and pop” landlords might own five, 10 or even a dozen homes, a definition that many found surprising.

“Someone, maybe your parents for their retirement, bought five, 10, 12 homes. So, we don’t want to push the mom and pops out. We just want to push everyone else out,”

Bessent said on Fox Business. Gov. Newsom shared the clip and criticized the secretary as out of touch; Bessent replied by attacking Newsom’s economics knowledge.

Other administration comments — from suggestions that families could buy fewer toys or that a $3 meal could be adequate — have also been characterized by opponents as tone‑deaf amid persistent cost-of-living concerns.

Political Implications

With the 2026 election likely to hinge on economic concerns, Democrats are positioned to highlight such remarks as evidence that Trump and some top officials are disconnected from everyday financial pressures. Supporters argue the administration’s policies have boosted investment and asset values, while critics contend those gains have been unevenly distributed.

Bottom Line: Trump’s Davos remarks underscore the political tension between policies that boost asset‑holders and the lived experience of many Americans who continue to feel economic strain.