Richest 1% of people own nearly half of global wealth, says report

From Aid | The Guardian Tue Oct 14 2014, 06:00:18

Credit Suisse study shows inequality accelerating, with NGOs saying it shows economic recovery skewed towards wealthy

The richest 1% of the worlds population are getting wealthier, owning more than 48% of global wealth, according to a report published on Tuesday which warned growing inequality could be a trigger for recession.

According to the Credit Suisse global wealth report (pdf), a person needs just $3,650 including the value of equity in their home to be among the wealthiest half of world citizens. However, more than $77,000 is required to be a member of the top 10% of global wealth holders, and $798,000 to belong to the top 1%.

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