• This brief investigates the distributional impacts of smallholder tobacco cultivation in Malawi between 2009/10 and 2018/19. • Households who grew tobacco during that time period were wealthier than the rest of the population • Households in the bottom asset quartile increased tobacco yields by 62% over this time period. • Biggest winners were those in the top asset quartile. They increased area planted by 41% and yields by 49% on average. • It will be very difficult and costly to move the wealthiest of the remaining 5% of smallholders out of tobacco cultivation. • May be potential to move those who are in the poorest 50% of the asset distribution that still grow tobacco if better livelihood opportunities can be found for them.