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Credit Suisse calculated: 1% of people own half of the world’s wealth

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Credit Suisse calculated: 1% of people own half of the world’s wealth
November 15
09:00 2017

The Swiss bank Credit Suisse annually prepares a report on how the money is distributed among the world’s population. The report is called the Global Wealth Report.

So, according to a recent report, the total welfare of people has reached 280 trillion US dollars, which is 6.4% more than the figure recorded in last year’s report. This is the biggest increase in the past five years. Experts say that the rise in property prices and the increase in companies’ stock prices are the reasons for such a growth.

The welfare indicator has grown faster than the population growth rate. In this regard, the capital in terms of one person is equal to 56,540 US dollars. This is an absolute record for this indicator (last year’s value is 52074 US dollars).

The world wealth is extremely uneven:, 50.1% of the world’s wealth is concentrated in the hands of one percent of the world’s population, about 70% of people on the planet are below the poverty line.

2.3 new millionaires were registered over the past year (the calculation was made in US dollars). Their total number is currently 36 million people. This is three times more than 17 years ago, in 2000.

The Swiss forecast that the growth rate of the welfare will continue until about 2022. It is assumed that in five years the aggregate capital of the population of our planet will increase to a figure of 341 trillion US dollars. The number of the richest inhabitants of the Earth will rise to 44 million, the amount of people belonging to the poorest population will reduced by about 4%.

Thus, inequality will continue to increase until once more the next world crisis messes things up on the world financial table.

The material was prepared with the participation of Darina Belova,
a leading analyst of the brokerage company CT Trade

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