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Top 1 Percent Owns Half Of All Global Wealth, Per Credit Suisse Report
Key Excerpts from Article on Website of International Business Times
Posted: October 18th, 2015
http://www.ibtimes.com/top-1-percent-owns-half-all-global-we...
In the past year, global wealth reversed a steady upward climb and fell by $12.4 trillion, largely due to currency fluctuations. But worldwide wealth inequality continued its upward march: The top 1 percent of households account for half of all assets in the world, according to the 2015 Credit Suisse Global Wealth Report. Thats a first since the Swiss bank began compiling the data in 2000, and a level possibly not seen for almost a century, the researchers write. For those on the other end of the wealth spectrum, meanwhile, the numbers are reversed. The poorest half of the worlds population owns just 1 percent of its assets. Financial assets have seen a 6 percent rise in the share of total wealth since 2008, benefiting the wealthy, who hold a disproportionate amount of capital. The overall rise in global wealth continued to be driven in large part by China and the emerging markets, which have doubled their aggregate wealth since 2000. China, whose wealth has grown fivefold since the beginning of the century, was shaken by market turmoil in the middle of the year but still managed to add $1.5 trillion in wealth. In 2015, a household net worth of $759,000 will put you in the ranks of the global one-percenters. The cutoff for the top 10 percent stood at $68,800.
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
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