50% of the world’s wealth in the hands of 1% of the population

Submitted by Beppe Grillo  – The Beppe Grillo Blog

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“The global inequality is growing, with half the world’s wealth is now in the hands of 1% of the population, according to a new report. The middle classes were crushed at the expense of the richest, according to research by Credit Suisse , which reveals Also for the first time, there are more middle class people in China – 109 million – compared with 92 million in the United States.

Tidjane Thiam, the chief executive of Credit Suisse, said: ” the wealth of the middle class has grown at a slower pace compared to the wealth at the top end. This has reversed the trend before the crisis that saw the share of wealth middle class remain relatively stable over time . ” About 3.4 billion people – just over 70% of the world’s adult population – have less than $ 10,000. An additional one billion – one fifth of the world population – is located in the range between 10,000 and 100,000 dollars. Each of the remaining 383 million adults, 8% of the population, has a wealth greater than $ 100,000. This number includes about 34 million millionaires in dollars. Among these, about 123,800 individuals have more than $ 50 million, and almost 45,000 have more than 100 million.

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The report shows that: ” The inequality in wealth has continued to increase since 2008, with the percentile on top of the pyramid of wealth that now owns 50.4% of all household wealth.
In early 2015, Oxfam had It warned that 1% of the world population would be richer than the other 99% within one year. Mark Goldring, Executive Director of Oxfam GB, said: “The fact that it happened in a year in advance – only a few weeks after that world leaders had agreed on a global target for reducing inequality – it shows how urgent it is for world leaders address this problem. This is the latest evidence that this extreme inequality is out of control. We are really happy to live in a world where 1% owns half the wealth and the poorest half has only 1%? ” by The Guardian , translation of Voices from abroad