Inequality In Global Wealth Distribution: The 1% Now Owns Half Of The Global Wealth
According to the Credit Suisse Research Institute’s annual “Global Wealth Report”, in 2015 Global wealth reached 250 trillion US dollars, slightly less than a year earlier. The underlying wealth, however, trends remain positive. Being said that, global wealth distribution inequality has widened this year. According to the report, only 1% of the world’s population now owns half of the world’s wealth, 45%, whereas bottom 71% people control only 3% of the all the wealth in the entire world.
If you’re a super rich and member of the 1% club 2015 was a good year for you and as trends predict all coming years will equally be good. “While the bottom half of adults collectively own less than 1% of total wealth, the richest decile holds 87.7% of assets, and the top percentile alone accounts for half of total household wealth,” the report says.
The major factor that contributed largely to the stunning rise of the 1% is growth in equity prices around the world, says the report. It means value of the things rich people own appreciating in value. On the other hand, global economy has largely slowed down, wages stagnant but stock price continues to rise.
Wondering about your position in the map? You need $3,210 dollars after debts to be part of the wealthiest half of the world’s adult population. To be a member of the world’s wealthiest 10% you just need $68,800 dollars and to be among the richest percentile, you only need $759,900 dollars.
Ibrahim works as an Intern at FS. He takes interviews, writes features, and meets entrepreneurs and makers and doers.