Wealth Inequality ‘Crisis’ As Richest 1 Percent Account For Half The World’s Wealth
(ICIJ) Global inequality has worsened since the millennium, with a new report finding the richest 1 percent account for half of the world’s wealth.The world’s top 1 percent held 45.5 percent of all household wealth in 2000. Now, they hold 50.1 percent, according to Credit Suisse’s annual Global Wealth Report. The report highlights that Ultra High Net Worth Individuals (UHNWIs) – people who are worth more than $50 million – as being the driving force behind the gap. This group of wealth holders has grown five-fold since 2000.
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