Global Wealth Inequality: Top 1% Own 41%; Top 10% Own 86%; Bottom Half Own Just 1%
By Michael Roberts
Source: Michael Roberts Blog
Monday, October 28, 2013
Just 8.4% of all the 5 billion adults in the world own 83.4% of all household wealth (thats property and financial assets, like stocks, shares and cash in the bank). About 393 million people have net worth (thats wealth after all debt is accounted for) of over $100,000, thats 10% own 86% of all household wealth!
But $100,000 may not seem that much, if you own a house in any G7 country without any mortgage. So many millions in the UK or the US are in the top 10% of global wealth holders. This shows just how little two-thirds of adults in the world have under $10,000 of net wealth each and billions have nothing at all.
This is not annual income but just wealth in other words, 3.2 billion adults own virtually nothing at all. At the other end of the spectrum, just 32 million people own $98 trillion in wealth or 41% of all household wealth or more than $1 million each. And just 98,700 people with "ultra-high net worth" have more than $50 million each and of these 33,900 are worth over $100 million each. Half of these super-rich live in the US.
Full article:
http://www.zcommunications.org/global-wealth-inequality-top-1-own-41-top-10-own-86-bottom-half-own-just-1-by-michael-roberts.html