What do you need to be in the top 1%? A cool sum of $759,900 only
The rich are getting richer and the poor are getting poorer – and here’s yet another study to prove it.
Half of the world’s wealth is in the hands of just 1% of the population, according to research by Credit Suisse.
What do you need to be in the top 1%? A cool sum of $759,900 only.
To be in the top 10% and 50%, you need $68,800 and $3,210 respectively.
According to the research, wealth is quantified by assets like property and investments.
The report pointed out that wealth inequality has been on the rise since 2008, with the top percentile of wealth holders now owning 50.4% of all household wealth.
Markus Stierli, of the Credit Suisse Research Institute, said: “From 2008 onwards, wealth growth has not allowed middle-class numbers to keep pace with population growth in the developing world. Furthermore, the distribution of wealth gains has shifted in favour of those at higher wealth levels. These two factors have combined to produce a decline in the share of middle-class wealth.”
Here are five key stats from the report:
1. The world has 383 million adults or 8% of the global adult population that are worth more than $100,000.
2. Close to 3.4 billion people or 70% of the global adult population are worth more than $10,000.
3. Over one billion people or close to a fifth of the world population are worth $10,000 to $100,000.
4. The UK has the third-highest number of ultra-high-net-worth individuals in the world.
5. About 123,800 people have more than $50m, and nearly 45,000 have more than $100m.
As of today, here are the top 10 richest people in the world: