{"id":13432,"date":"2015-10-15T06:45:31","date_gmt":"2015-10-15T11:45:31","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13432"},"modified":"2015-10-15T06:45:31","modified_gmt":"2015-10-15T11:45:31","slug":"half-of-worlds-wealth-now-in-hands-of-1-of-population-report","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13432","title":{"rendered":"Half of world’s wealth now in hands of 1% of population \u2013 report"},"content":{"rendered":"

Half of world’s wealth now in hands of 1% of population \u2013 report<\/a><\/h3>\n

Inequality growing globally and in the UK, which has third most \u2018ultra-high net worth individuals\u2019, household wealth study finds<\/strong><\/p>\n

Global inequality is growing, with half the world\u2019s wealth now in the hands of just 1% of the population, according to a new report.<\/p>\n

The middle classes have been squeezed at the expense of the very rich, according to\u00a0research by Credit Suisse<\/a>, which also finds that for the first time, there are more individuals in the\u00a0middle classes in China<\/a>\u00a0\u2013 109m \u2013 than the 92m in the US.<\/p>\n

Tidjane Thiam, the chief executive of\u00a0Credit Suisse<\/a>, said: \u201cMiddle class wealth has grown at a slower pace than wealth at the top end. This has reversed the pre-crisis trend which saw the share of middle-class wealth remaining fairly stable over time.\u201d<\/p>\n

The report shows that a person needs only $3,210 (\u00a32,100) to be in the wealthiest 50% of world citizens. About $68,800 secures a place in the top 10%, while the top 1% have more than $759,900. The report defines wealth as the value of assets including property and stock market investments, but excludes debt.<\/p>\n

About 3.4 bn people \u2013 just over 70% of the global adult population \u2013 have wealth of less than $10,000. A further 1bn \u2013 a fifth of the world\u2019s population \u2013 are in the $10,000-$100,000 range.<\/p>\n

Each of the remaining 383m adults \u2013 8% of the population \u2013 has wealth of more than $100,000. This number includes about 34m US dollar millionaires. About 123,800 individuals of these have more than $50m, and nearly 45,000 have more than $100m. The UK has the third-highest number of these \u201cultra-high net worth\u201d individuals.<\/p>\n

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\"Pyramid<\/div>\n<\/figure>\n
The report said: \u201cWealth inequality<\/a>\u00a0has continued to increase since 2008, with the top percentile of wealth holders now owning 50.4% of all household wealth.\u201d<\/div>\n
<\/div>\n
At the start of 2015, Oxfam had warned that 1% of the world\u2019s population would own more wealth\u00a0than the other 99%<\/a>\u00a0by next year. Mark Goldring,<\/div>\n
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…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Half of world’s wealth now in hands of 1% of population \u2013 report Inequality growing globally and in the UK, which has third most \u2018ultra-high net worth individuals\u2019, household wealth study finds Global inequality is growing, with half the world\u2019s wealth now in the hands of just 1% of the population, according to a new […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1253,1254,4513,8989,425,2137,9881,6917,868],"class_list":["post-13432","post","type-post","status-publish","format-standard","hentry","category-economics","tag-1253","tag-1254","tag-credit-suisse","tag-financial-assets","tag-inequality","tag-middle-class","tag-oxfam","tag-the-guardian","tag-wealth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13432"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13432\/revisions"}],"predecessor-version":[{"id":13433,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13432\/revisions\/13433"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}