How do you feel about 1% of the world's population owning half of the world’s wealth?

[LarryWheels]

The richest one per cent now own half of all the wealth in the world, a new report from Credit Suisse says.

The bank's Global Wealth Report 2015 marks the first time that the world's super rich have amassed enough wealth to cross that symbolic line.

By the bank's reckoning, just over $250 trillion US worth of wealth has been amassed by households. At the top sit the ultra-rich, which the bank defines as having a net worth of at least $50 million in assets. Worldwide, there are 120,000 people in the group.

Just below the ultra-rich are 34 million people, with a collective net worth of at least $1 million. Collectively, people in that part of the pyramid make up 0.7 per cent of the world's population, but own 45.2 per cent of the world's wealth. If you extend the cut-off to one per cent of the world's population, they own more than half of all wealth in the world.

"Wealth inequality has continued to increase since 2008, with the top percentile of wealth holders now owning 50.4 per cent of all household wealth," the report said.

Source:
http://www.cbc.ca/news/business/credit-suisse-world-wealth-report-1.3270056

[RavVid]

I see these type of number as a beat up that is not worth playing. A tier of your list are those who developed a product the world decided it wanted and the wealth is holding a lot of shares. It is wealth that wouldn't have existed without them.

Every single one of us could do what Warren Buffett did and invest consistently in stocks and progressively accumulate 150 billion. Most of use won't. Or we might have invested in bit coin early and bought a lot of coins and be very wealthy.

I think these lists exclude the value of the the domestic dwelling otherwise there would be a lot more millionaires from home values alone. But it is not that unrealistic that someone that knows how to run a business does very well from it.

It is just belated jealousy that your question shows. There is a supposition that no one should do that well and I think you need to justify it.

Why shouldn't they?

[BadApple69]

Honestly I’m fine with it.


Elon personally hire 160,000 employees. That’s directly. There are a lot of companies Elon gets parts from or supplies that Elon’s companies also prop up.


Bernie sanders is worth several million dollars (not even close to Elon) but Bernie has never built anything, he has never hired an employee (maybe a gardener).


For this country I would take a dozen Elons who develop cars, space ships, Nero-link, star link and other companies… who uses PayPal? Elon created that.


If we had a whole bunch of Bernie Sanders we would have a whole bunch of millionaires that didn’t employ anyone and never gave anyone a steady paycheck. Bernie brings no value to the economy.

[FreyaRed]

Wealth should reflect resources but it doesn't it's just a share market bubble with virtual fiat money that isn't even secured with debt as it should be.
The real question, does this 1% own half of world's resources?

[RachyRach]

It's unsurprising. Is it fair? Definitely not. Will it get worse. Definitely.

[strateguy632]

To @RachyRach
you wrote "Will it get worse. Definitely." But not worse for poor people. Same "$1" no matter how much richer the rich will get.

[strateguy632]

Seems extreme but 1% of 8 billion is MILLIONS of people so...

so "80 million rich with half the money" is great. The idea of inequality from: poor "$1" to a miilion is not worse for the poor than:

big inequality $1 to billions. Inequality is a bad measure.

it is expected that most people are poor. in general. Also specifics:

50% are china +india poor. Government blame.

25% are africa poor Government blame. Now that 25% middle class is a miracle. that is really a lot of people in middle class.

[Lliam]

I think such wealth inequality is wrong because wealth equals power and, therefore, the 1% have exponentially more power than the 99%. They have power over the 99%. The 99% are virtually powerless.
Our economic system is F'd up.

I am in favor of the Eisenhower era progressive income tax and inheritance tax on the wealthy..
Trickle down economics is bullshit.

[Zack-Bann]

So many people today weren’t taught not to envy their neighbor’s toys as children.


Someone else’s success has nothing to do with You 🫵


Real wealth is the freedom to get wealthy.


You don’t have to be a zillionaire, but you can make however much you need by working smarter and spending responsibly

[Anonymous]

"Render unto Caeser that which is Caeser's, and unto God that which is God's"

I've been poor and i've been financially well off. And ironically some of the happiest time in my life has been when i've been poor. Does this mean i want to be poor? No, of course not. I want a dollar as much as the next guy i think. But there has always been and will always be winners and losers in this world. And you cannot force a heart to change. It has to want to do that. All you can do is ask that they give to those in need. One day their knee will bend to the king of kings and they will have to answer for their actions and inactions.

[lightbulb27]

Thats really bad, but could be worse people.

the problems is not them… noone forced people to spend $2000 to see taylor swift sing her misery to them. That was a failure of parenting of kids.

same for many kf those. No readon elon should have gotten so much. In general… massive corruption.

[itss_lily]

horrendous. the wealth inequality is out of hand. they have all that money meanwhile many people go hungry, get sick, can't get care and die.

[jahaims]

Most people throughout history are born into a slave class. You don't own your property if you have to pay taxes on it after you own it. You don't decide how much of your income is given to the government. It is forcibly taken from people.

[Anonymous]

I don't care, people traded their real wealth, savings and ownership for rentals, loans and subscriptions

I follow the path of the rich and live very well indeed on far less than most people earn

[exitseven]

It would be better if I was one of thr one percenters

[Agape93]

I dont care, they'll feed the worms just fine

[fishbone77]

Don’t care. They aren’t taking it from me.

[Alexson_stormzy]

Unacceptable but might be true