The mind boggling aspect of this chart is how poor the vast majority of people in the world are. If you have net worth of $10,000, you are richer than 4.8 billion people on the planet. If you have net worth of $100,000, you are richer than 6.4 billion people on the planet. If and when things go south, there are going to be a lot more have nots looking to skewer the haves. It should be interesting.
Financial inequality is steadily rising alongside global wealth, which reached a grand total of $263 trillion in 2014. According to Crdit Suisse, people with a net worth of over $1 million represent just 0.7 percent of the planet’s population, but they control 41 percent of its wealth.
69 percent of the world’s population have a net worth of under $10,000 – they account for a mere 3 percent of global wealth. Meanwhile, 23 percent fall into the $10,000-$100,000 bracket and they control 14 percent of worldwide wealth. In order to be counted among the wealthiest half of the world’s citizens, a person requires a net worth of $3,650.
This post was published at The Burning Platform on 13th November 2014.
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