Richest 1% to own more than rest of world, how much do you need to be in the 1% ?

Charity group Oxfam have carried out a study which shows that the world’s wealthiest 1% will soon own more than the rest of the world’s population.

The research indicates that the share of the world’s wealth owned by the richest 1% increased from 44% in 2009 to 48% last year. On these current trends, Oxfam says that it expects the wealthiest 1% to own more than 50% of the world’s wealth by 2016.

The charity is calling on governments to adopt a seven point plan to tackle inequality, including a clampdown on tax evasion by companies and the move towards a living wage for all workers.

Oxfam made headlines at Davos last year with the revelation that the 85 richest people on the planet have the same wealth as the poorest 50% (3.5 billion people). It said that that comparison had now become even starker, with the 80 richest people having the same wealth as the poorest 50%.

The charity said the research, published on Monday, showed that 52% of global wealth not owned by the richest 1% is owned by those in the richest 20%.

The remaining population accounts for just 5.5% of global wealth and their average wealth was $3,851 (£2,544) per adult in 2014, Oxfam found. That compares to an average wealth of $2.7m per adult for the elite 1%.

Last year I wrote a blog post on Are you among the world’s wealthiest? This will surprise you

To be in the worlds 1% you need assets of $798k .

An individual $3,650 ( all assets ) you among the wealthiest 50 % of the world population .The other half own only 1% of the world wealth !

77pc of adults – that’s 3.3bn people – have less than $10,000 .

To be the top 10pc of richest people – membership requirement is $77,000 – hold 87pc of the world’s wealth.

$798,000 is what you require to be in the top percentile of the world’s wealthiest. 1 % accounts for almost half – 48.2pc – of global assets.

2015/01/img_9756.jpg

  1. No trackbacks yet.

You must be logged in to post a comment.
%d bloggers like this: