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While that's a slight dip from post-COVID CEO wages, it's a clear indication that the wealth gap continues to widen as the cost-of-living crisis worsens.

"Gross inequality is not good for anybody, including the rich people, and it's unsustainable," says Morris Pearl, former managing director of Black Rock, one of the world's largest investment firms, and now chair of Patriotic Millionaires.

"We're very concerned that inequality is getting worse and it is making our whole society unstable, and we're trying to change policies in our country to do something about that and to stop it before, frankly, everyone gives up on liberal democracy," Mr Pearl tells ABC RN's Future Tense.

Additionally the group meets annually to run strategy sessions with academics, activists and lawmakers to discuss how to push for a fairer economy.

For example, in the lead up to this year's Rio de Janeiro G20 meeting in November, Mr Pearl says a number of countries have signalled their interest in a minimum tax on very wealthy people as proposed by French economist Gabriel Zucman.

Ingrid Robeyns, a professor of philosophy and economics at Utrecht University in the Netherlands, has spent the past decade working on an approach to wealth which she calls limitarianism.

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