Analysis of Global Wealth

The top 1% own 45% of all global personal wealth; 10% own 82%; the bottom 50% own less than 1%
Every year the CS global wealth report analyses the household wealth of 5.1 billion people across the globe. Household wealth is made up of the financial assets (stocks, bonds, cash, pension funds) and property (houses etc) owned. And the report measures this net of debt. The report’s authors are James Davies, Rodrigo Lluberas and Anthony Shorrocks. Professor Anthony Shorrocks was my university flatmate, where we both graduated in economics (although he has the much better mathematical skills!).

Global wealth grew during the past year by 2.6% to USD 360 trillion and wealth per adult reached a new record high of USD 70,850, 1.2% above the level of mid-2018 with Switzerland topping the biggest gains in wealth per adult this year. The US, China, and Europe contributed the most towards global wealth growth with USD 3.8 trillion, USD 1.9 trillion and USD 1.1 trillion respectively.

Global News Update with Mr. and Mrs. Beckmann

Article Source: CADTM
Photo by John O’Nolan on Unsplash

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