Global Wealth Update: 0.7% Of Adults Control $116.6 Trillion or 46% of all Wealth

The wealth gap is a large divide. With .7% of the population controlling 45.6% of the wealth. Wow.


The story goes into the fact that the last election is a shocking political backlash that the lower part of the wealth pyramid are unhappy. I wonder why people are upset, no noticeable raises since 1975 may have a little to do with it?

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what is perhaps the biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in its infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past few months suggests that the lower 'levels' of the pyramid are increasingly unhappy about.

.7% of the population control 45.6% of the worlds wealth $116,600,000,000,000. And 3.5 billion people have a net worth of less than $10,000. I wonder in the age of automation what this will look like in 10 years.

www.zerohedge.com...
As Credit Suisse tantalizingly shows year after year, the number of people who control just shy of a majority of global net worth, or 45.6% of the roughly $255 trillion in household wealth, is declining progressively relative to the total population of the world, and in 2016 the number of people who are worth more than $1 million was just 33 million, roughly 0.7% of the world's population of adults. On the other end of the pyramid, some 3.5 billion adults had a net worth of less than $10,000, accounting for just about $6 trillion in household wealth. And inbetween is the so-called global middle class - those 1 billion people who rising anger at the status quo made Brexit and Trump possible.

There are a lot of poor people in the world. I don't know that these statistics by themselves really mean much especially when you consider that countries like India and China are bursting at the seams with poor people. Global wealth numbers are misleading for this fact.

Don't have time to look it up, but I believe you only need to make about $35,000 per year to be considered part of the 1% globally. In other words, pretty much any American who works is considered part of the 1% globally.

a reply to: seasonal

Kind of ugly isn't it.
I'm in the 7.5% bracket,
and I thought I was poor.
HooHaa!

Many things for sure,
I am naive, ignorant,
and deplorable
among'st them.

S&F

a reply to: Wildmanimal
Me too. I think the top is easy to see, but the bottom is difficult. You have people in India making 3$ a day, and Mexican workers making 15$ a day. I guess I/m saying the numbers are relative at the bottom.

a reply to: Edumakated

The problem is if wealth keeps trickerling up then eventually 0.1% will be living in utopia and everyone else will litrally be living in the gutter.
Our standard of living wont just stay the same, it will plummet.

Most the middle class are seeing this right now as we have to do with less more and more. Meanwhile some saudi oil baron or a Rothchild bankers gets a new golden palace to add to the dozen others (subsized half the time through tax payer money).....


This applys to you too and your children. You will be squeezed more and more through taxes and lost buisness.

No one will be safe unless you are in that select group of the neo aristocracy that control the worlds economy and politics.

originally posted by: crazyewok
a reply to: Edumakated

The problem is if wealth keeps trickerling up then eventually 0.1% will be living in utopia and everyone else will litrally be living in the gutter.
Our standard of living wont just stay the same, it will plummet.

Most the middle class are seeing this right now as we have to do with less more and more. Meanwhile some saudi oil baron or a Rothchild bankers gets a new golden palace to add to the dozen others (subsized half the time through tax payer money).....


This applys to you too and your children. You will be squeezed more and more through taxes and lost buisness.

No one will be safe unless you are in that select group of the neo aristocracy that control the worlds economy and politics.

They already live in Utopia. For most of human history there has always been an elite that live in Utopia compared to everyone else. There has never been this income equality so many of you yearn for. It simply isn't possible.

As I stated, globally, almost anyone who lives in a first world western country is part of the global elite 1% if income is the measure. The brokest people in America live better than most do in other countries. Our standard of living is very high even for the poorest.

Most of the wealthy obtain their wealth because they created something that has a massive amount of value. Bill Gates created and built one of the largest global companies. He has employed millions of people over that time frame. Created many millionaires and billionaires as a result. The value creation far exceeds his net worth.

a reply to: Edumakated
Way to miss the point of my entire post and shoe horn me into those wanting income equality.........

Maybe reading is not your strong point?


I accept that there are haves and haves not. I have no issue with rich and those not well off.

My problem is the fact that money is not trickling down. It is trickling up with crony capitalism.

More a more of the words resources are being diverted into the hands of only a few thousand people.
If that trend continues. Where will that leave me and you?

Do you really want your children living in shanty houses begging for scraps with not hope of ever achieving more in life?