Credit Suisse: Globe’s Richest 1% Own Half The World’s Wealth

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Source: Credit Suisse Research Institute, Global Wealth Report 2016

The Guardian: Richest 1% own half the world's wealth, study finds

Credit Suisse report highlights increasing gap between the super-rich and the remainder of the globe’s population

The globe’s richest 1% own half the world’s wealth, according to a new report highlighting the growing gap between the super-rich and everyone else.

The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to Credit Suisse’s global wealth report published on Tuesday.

“The share of the top 1% has been on an upward path ever since [the crisis], passing the 2000 level in 2013 and achieving new peaks every year thereafter,” the annual report said. The bank said “global wealth inequality has certainly been high and rising in the post-crisis period”.

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WNU Editor: This is actually progress. There was a time when the top 0.1% owed everything.