The Richest 1 Percent Own Almost Half Of The Entire World’s Wealth

The wealthiest people now own nearly half of the money and financial assets in the world, a new report from Credit Suisse has found.

According to the Guardian, global wealth rose by $20.1 trillion over the past year to $263 trillion, the biggest jump since 2007 and more than twice the global wealth of 2000.

A person needs just $3,650 to be among the wealthiest half of the world’s population and more than $77,000 to be in the top 10 percent, a gap the annual report says has increased in recent years.

The richest 1 percent all have at least $798,000 and now own 48 percent of global wealth.

The report says,

Taken together, the bottom half of the global population own less than 1% of total wealth. In sharp contrast, the richest decile hold 87% of the world’s wealth, and the top percentile alone account for 48.2% of global assets.

Although inequality is rising in lesser developed countries, only one nation in the G7, a group of seven countries with advanced economies, has seen an increase in inequality since the year 2000.

The report says,

Only one of them, the UK, recorded rising inequality over the entire period 2000–2014 and only three show an increase after 2007 – France, Italy and the UK.

The report, now in its fifth year, says that nearly 60 percent of the UK is worth over $100,000, and two million people have become millionaires in US dollars, which are worth less than British pounds and euros.

In a year’s time, the US was able to regain the rest of the $12.3 trillion lost in the financial crisis.

But America’s wealth has also increased faster than income over the past few years, which the authors noted was the same scenario that led to the economic recession.

via The Guardian, Photo Courtesy: Paramount Pictures 

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via The Richest 1 Percent Own Almost Half Of The Entire World’s Wealth
by LCFPadmin2016