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Top 1 Percent Owns Half Of All Global Wealth, Per Credit Suisse Report
By Owen Davis @of_davis o.davis@ibtimes.com
October 13 2015 9:55 AM
Global wealth inequality in 2015 increased to levels “possibly not seen for almost a century,” according to Credit Suisse.
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.
That’s 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 world’s population owns just 1 percent of its assets
By Owen Davis @of_davis o.davis@ibtimes.com
October 13 2015 9:55 AM
Global wealth inequality in 2015 increased to levels “possibly not seen for almost a century,” according to Credit Suisse.
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.
That’s 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 world’s population owns just 1 percent of its assets
