'Word's richest 1% own nearly half of global wealth,' says a study
October 14 , 2014
The world’s richest 1% are getting richer, a report by Credit Suisse says. They now own over 48% of global wealth.
A person needs just $3,650 to be in the wealthiest half of global citizens. But over $77,000 is needed to be among the top 10% and to make it to the top 1%, $798,000 is required, the report says, warning that increasing inequality could lead to recession.
The wealth owned by the bottom half of the world’s population is less than 1% of the total, the report says.