Richest 1 percent of people own nearly half of all global wealth

Yacht - Eric Lumsden - Flickr

The richest 1% of the world’s population are getting wealthier, owning more than 48% of global wealth, according to a report published on Tuesday which warned growing inequality could be a trigger for recession.

According to the Credit Suisse global wealth report (pdf), a person needs just $3,650 – including the value of equity in their home – to be among the wealthiest half of world citizens. However, more than $77,000 is required to be a member of the top 10% of global wealth holders, and $798,000 to belong to the top 1%.

“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,” said the annual report, now in its fifth year.

(Read the rest of the story here…)

1 thought on “Richest 1 percent of people own nearly half of all global wealth”

  1. I guess it depends on how you define the word “wealthy”.
    A lot of people in this class hide as average citizens.
    They do not want the curse of having people wanting them just for their money.
    A lot of people end up with security forces looking after them. They are a prime target for kidnappers.
    The smart ones have medium value cars. They do not live in the most expensive neighborhoods. They act and are just like you and me.
    .SOmetimes even their own families do not know they are wealthy.
    The top one percent probably live in worlds all their own. I know the sisters did. One wealthy sister lived in society in Atlanta. The other had a cattle ranch on their very own island in the Hawaian chain.
    I just about cracked up when I saw a photo of one of the sisters with the chief executives of the company. They were such a bunch of brown nosers. You could just see how they diplomatically moved around the sisters. The sister photographed was in her mid 80s at the time.
    Now the company is run by obscure cousin. Both Daddy and Brother were womanizers. I can imagine that this man is probably a lot closer kin than anyone suspects.

Comments are closed.