Inequality and unease are rising as elite Davos event opens with pro-business Trump set to attend

DAVOS, Switzerland (AP) — Corporate chiefs and government leaders including U.S. President Donald Trump swarm into Davos, Switzerland, this week, joining an elite annual meeting that promotes dialogue and economic progress — even as a domineering tone from Washington has upended the global order and billionaires have reaped trillions in new wealth as the poor lag behind.

The World Economic Forum, the think tank whose four-day annual meeting opens Tuesday, has a stated motto of “improving the state of the world," and this year's theme is “A spirit of dialogue.” One question is whether Trump will speak with attendees — or at them.

Nearly 3,000 attendees from the interlinked worlds of business, advocacy and policy will tackle issues including the growing gap between rich and poor; AI's impact on jobs; concerns about geo-economic conflict; tariffs that have rocked longstanding trade relationships; and an erosion of trust between communities and countries.

“It’s really going to be a discussion at a very important moment ... geopolitics is changing," said Mirek Dušek, a forum managing director in charge of programming. "Some people think we’re in a transition. Some people think we’ve already entered a new era. But I think it’s undeniable that you are seeing a more competitive, more contested landscape.”

Trump’s third visit to Davos as president comes as U.S. allies worry about his ambition to take over Greenland, Latin America is grappling with his efforts to reap Venezuela’s oil, and his hardball tactics toward Federal Reserve Chair Jerome Powell have stirred concern among business leaders and lawmakers alike.

Trump’s peace-making credentials also will be on the table: An announcement looms about his “ Board of Peace ” for Gaza, and he and his administration are expected to have bilateral meetings in the warren of side rooms at the Congress Center.

The U.S. leader seems to revel in strolling through the Davos Congress Center and among executives who back his business-minded, money-making approach to politics.

Critics will also be nearby. Trump has blown hot and cold recently with Colombian President Gustavo Petro, an invitee. Foreign Minister Abbas Araghchi of Iran was set to speak, but his appearance was cancelled. Iran's leaders face U.S. sanctions over their handling of recent protests, and organizers said Monday that "the tragic loss of civilian lives" means “it is not right” for the government to be represented.

The two likeliest counterweights to Trump’s administration on the international scene — China and the European Union — get top billing on the first day: EU Commission President Ursula von der Leyen will speak Tuesday morning, right before Vice Premier He Lifeng, China’s “economic czar” — as Dušek put it.

The forum will be without its founder, Klaus Schwab, who hosted the first event in Davos 55 years ago focusing on business, only to see it since balloon into a catchall extravaganza. He stepped down in April. New co-chairs Larry Fink, the head of investment firm BlackRock, and Andre Hoffman, vice chair of pharmaceuticals firm Roche, are in charge.

This year will also mark the debut appearance of Nvidia CEO Jensen Huang, arguably the world’s most important tech leader today, among some 850 CEOs and chairs of global companies — along with celebrities like Hollywood actor and safe-water advocate Matt Damon.

The future of AI, its impact on business and work, and the prospects for artificial general intelligence will be key themes.

The presidents of Argentina, France, Indonesia, Syria and Ukraine will be among the dozens of national leaders on hand.

Leading public-relations firm Edelman reports in its annual trust barometer – launched a quarter-century ago and this year surveying nearly 34,000 people in 28 countries – that trade and recession fears have climbed to an all-time high, optimism is falling especially in developed countries, and “grievance” last year has morphed into broader “insularity.”

“People are retreating from dialogue and compromise, choosing the safety of the familiar over the perceived risk of change,” said CEO Richard Edelman. “We favor nationalism over global connection and individual gain over joint progress. Our mentality has shifted from ‘we’ to ‘me’.”

The survey found that about two-thirds of respondents said their trust was concentrated toward CEOs of the companies that they work for, fellow citizens or neighbors, while nearly 70% believed institutional leaders — such as from business or government — deliberately mislead the public.

Oxfam, the world-renowned advocacy group, issued a report which showed that billionaire wealth rose by more than 16% last year, three times faster than the past five-year average, to more than $18 trillion. It drew on Forbes magazine data on the world’s richest people.

Oxfam said the $2.5 trillion rise in the wealth of billionaires last year would be enough to eradicate extreme poverty 26 times over. Their wealth has risen by more than four-fifths since 2020, while nearly half the world’s population lives in poverty, the group said.

The Trump administration has led a “pro-billionaire agenda,” the group said, through actions such as slashing taxes for the wealthiest, fostering the growth of AI-related stocks that help rich investors get richer, and thwarting efforts to tax giant companies.

The advocacy group wants more national efforts to reduce inequality, higher taxes on the ultra-rich to reduce their power, and greater limits on their ability to shape policy through lobbying.

With such concerns filtering through to policymakers, Trump, who is leading the biggest-ever U.S. delegation and will have about a half-dozen Cabinet secretaries in tow, is expected to discuss housing and affordability in his Davos speech on Wednesday.

As usual, protesters rallied over the weekend in and near Davos ahead of the event. Hundreds of marchers scaled an Alpine road up to the town on Saturday behind a banner in German that read “No Profit from War” and alongside a truck that bore a sign: World Economic Failure.

Companies like Microsoft, India's Tata Consultancy, social media titan TikTok and cybersecurity firm CrowdStrike joined governments from countries such as Nigeria, Qatar, Ukraine and the United States — a USA House is making a debut this year — to set up shop on the Davos Promenade to promote their services, products and national economies.

Davos storekeepers rent out their premises so that forum participants can have the prime real estate for the week.

Critics have long accused the annual meeting of generating more rhetoric than results, and they see Trump's return as sign of the disconnect between haves and have-nots. Some say Swiss leaders who support the event and flock to Davos too are adding to the problem.

“It is worrying how Swiss politicians are courting warmongers and their profiteers in Davos,” said Mirjam Hostetmann, president of Switzerland's Young Socialists, who have led protests against the event. “The WEF will never bring peace, but will only fuel escalation.”

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AP World Economic Forum: https://apnews.com/hub/world-economic-forum

A man installs a microphone for the opening concert of the Annnual Meeting of the World Economy Forum at the Congress Center in Davos, Switzerland, Sunday, Jan. 18, 2026. (AP Photo/Markus Schreiber)

Posters cover the church hosting the United States House on the eve of the start of the Annual Meeting of the World Economy Forum in Davos, Switzerland, Sunday, Jan. 18, 2026. (AP Photo/Markus Schreiber)

The windows of the Congress Center, center top, where the Annual Meeting of the World Economy Forum take place are illuminated in Davos, Switzerland, Saturday, Jan. 17, 2026. (AP Photo/Markus Schreiber)

FILE - Attendees listen to a virtual speech delivered by U.S. president Donald Trump, at the Annual Meeting of World Economic Forum in Davos, Switzerland, Thursday, Jan. 23, 2025. (AP Photo/Markus Schreiber, file)

The logo of the World Economy Forum is displayed on a window of the Congress Center where the Annual Meeting Forum take place in Davos, Switzerland, Sunday, Jan. 18, 2026. (AP Photo/Markus Schreiber)

The first-ever World team for the NBA All-Star Game is already looking loaded. And the fate of LeBron James' record streak of All-Star selections will now be decided by coaches, or perhaps even Commissioner Adam Silver.

Milwaukee's Giannis Antetokounmpo, Oklahoma City's Shai Gilgeous-Alexander, Denver's Nikola Jokic, the Los Angeles Lakers' Luka Doncic and San Antonio's Victor Wembanyama were among those announced Monday as starters — an inexact term this year — for next month's All-Star Game at the Los Angeles Clippers' home arena in Inglewood, California. They're likely heading to the World team, which will take on two teams of U.S. players as part of yet another new format for the midseason showcase.

The NBA announced 10 starters, five from each conference. Golden State's Stephen Curry, New York's Jalen Brunson, Detroit's Cade Cunningham, Philadelphia's Tyrese Maxey and Boston's Jaylen Brown all are presumably headed to the U.S. squads that will play in the three-team, round-robin tournament on Feb. 15 — all 12-minute mini-games, with the top two teams advancing to a 12-minute championship game.

“It’s still as special as the first one was, honestly," Gilgeous-Alexander said of the All-Star nod. "I grew up watching All-Star games as a kid, dreaming about playing in them. To be able to play in them will always have that same feeling. All the players that I looked up to, that I imitated my game after, played in those games, played on that stage. And for me to be able do so, it’s a blessing and an honor.”

Starters were selected through a weighted formula, with fan voting counting for 50% of a player’s ranking, the votes of a 100-member panel of broadcasters and reporters counting for 25% and voting by NBA players themselves counting for the remaining 25%.

The U.S. vs. the World concept was talked about for years before finally becoming a reality this season. The NBA and the National Basketball Players Association unveiled the long-awaited plan earlier this season, after trying yet again to figure out the latest way to spark renewed interest in the game.

It seemed like the right time to try a game with national pride at stake, given that it'll happen this year around the midway point of the Milan Cortina Winter Olympics. The NBA's All-Star events, like the Olympics in the U.S., will all be broadcast on NBC’s family of networks.

There will be three teams of at least eight players. Games will be one standard NBA quarter, or 12 minutes long.

Team A will play Team B in Game 1. The winner of that game will play Team C in Game 2. The loser of Game 1 will play Team C in Game 3.

The teams with the best two records will play in the championship game. If all three teams are 1-1, point differential would be the tiebreaker.

The league typically has 10 starters picked by the weighted formula voting, then 14 reserves by the coaches, and that’s also the case this year.

It’s just different.

In a standard All-Star Game — two teams, 12 players per side — the old voting formula works out perfectly. But this is three teams, with eight players per side. That means at least 15 players will “start” a game in the All-Star tournament.

Therefore, it’s guaranteed that some players who weren’t announced as starters Monday will be starting on Feb. 15.

And it is possible that some rosters may have more than eight players, if the NBA needs to keep adding in order to get to 16 on the U.S. side or eight on the World side.

James, for the first time in 22 years, wasn't among the group selected as a starter.

His record run of 20 consecutive All-Star Game appearances — not selections, that streak continued — ended last season when he bowed out of another mini-tournament format citing foot and ankle injuries. He could still make it as a reserve, with those 14 spots to be decided by a polling of NBA head coaches.

And he also could get an invite as an injury replacement if one is needed, with Silver picking those players when necessary.

James is in his record-setting 23rd season. His record streak of 1,297 consecutive regular-season games with at least 10 points ended in December, and he has already missed 17 games — meaning he'll probably have to play in every Lakers game for the rest of the season to be eligible for most postseason awards like All-NBA honors. James has been an All-NBA selection in 21 of his first 22 seasons, including a second-teamer last season.

AP NBA: https://apnews.com/hub/NBA

Minnesota Timberwolves forward Joan Beringer (19) is blocked by San Antonio Spurs forward Victor Wembanyama (1) as he drives to the basket during the second half of an NBA basketball game in San Antonio, Saturday, Jan. 17, 2026. (AP Photo/Eric Gay)

Golden State Warriors guard Stephen Curry (30) gestures after scoring against the Charlotte Hornets during the first half of an NBA basketball game in San Francisco, Saturday, Jan. 17, 2026. (AP Photo/Jeff Chiu)

Los Angeles Lakers guard Luka Doncic (77) drives to the basket as Toronto Raptors guard Ochai Agbaji (30) defends during the first half of an NBA basketball game in Los Angeles, Sunday, Jan. 18, 2026. (AP Photo/Kyusung Gong)