In the News
Richest 1% own half of the world's wealth
A Credit Suisse reportreveals the extent to which the meek seem increasingly unlikely to inherit the earth.
At the moment, the offspring of the richest 1% appear in line to inherit half of its wealth, leaving the rest of us scrabbling around for the rest.
As the article notes:
"At the other end of the spectrum, the world’s 3.5 billion poorest adults each have assets of less than $10,000 (£7,600). Collectively these people, who account for 70% of the world’s working age population, account for just 2.7% of global wealth."
- Today, less than 10% of the global population owns 86% of the global wealth.
- Global mean wealth stands at $56,540 per adult
- Since year 2000, the number of millionaires globally has increased 170%.
Does it seem to you that inequality has already reached unacceptable levels? And if so, what can we do to change this? And at what cost? Plenty to ponder.