Published On: Tue, Jan 19th, 2016

The 62 Richest People Are As Wealthy As Half The World

Most expensive houses - Hearst Mansion Beverley Hills

 

The shocking extent of financial inequality around the world has been laid bare by a new report from Oxfam. It found that in 2015, 62 individuals owned as much wealth as the poorest half of the world’s population. It also criticised the amount of money being kept in offshore tax havens. That comes to an estimated $7.6 trillion – more than the GDP of the UK and Germany combined.

The Global Pyramid Of Wealth

How is wealth distributed across the world? This pyramid shows that 3.4 billion people (71 percent of the world’s adults) have a wealth of less than $10, 000 in 2015. Another billion people (21 percent of the world’s adults) have financial assets between $10, 000 and $100, 000. At the very top of the pyramid, 34 million people have a fortune of $1 million of higher, and they collectively control a whopping $113 trillion. By contrast the 3.4 billion people at the base control just $7.4 trillion, according to the Global Wealth Report from Credit Suisse.

 

0.7% Of The World’s Population Control 41% Of Its Wealth

Financial inequality is steadily rising alongside global wealth, which reached a grand total of $263 trillion in 2014. According to Crédit Swiss, people with a net worth of over $1 million represent just 0.7 percent of the planet’s population, but they control 41 percent of its wealth.

69 percent of the world’s population have a net worth of under $10, 000 – they account for a mere 3 percent of global wealth. Meanwhile, 23 percent fall into the $10, 000-$100, 000 bracket and they control 14 percent of worldwide wealth. In order to be counted among the wealthiest half of the world’s citizens, a person requires a net worth of $3, 650.

 

This chart shows global wealth of the bottom 50% and 62 richest individuals from 2001 to 2015.

Infographic: 0.7% Of The World's Population Control 41% Of Its Wealth | Statista

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