Photo: charlesfred via Flickr
The world economy may still be in the doldrums, but global wealth continues to grow, hitting an all-time high this year of $231 trillion, according to a new global wealth report from Credit Suisse.And more than ever, that figure is concentrated at the top of the pile. A mere 0.5% of the world’s population owns an eye-popping 38.5% of its total wealth.
As protests against the “1%” continue to rage on in downtown Manhattan and cities across the globe, we’re taking a look at how wealth is distributed and which countries are increasing their share of the world’s richest people.
The charts are from Credit Suisse’s 2011 Global Wealth Report. Click here to download the full report.
Here you can see what continents comprise different wealth deciles. Developed markets clearly dominate the top 10%
Wealth inequality in Africa is so high that while almost half of African adults are in the bottom two wealth deciles, some individuals are still in the top 1%.
China, India, Latin America and Africa account for 56% of the world's population, but just 16% of its wealth.
And those numbers are even more concentrated when you look at millionaires. One-third of the world's millionaires live in the U.S. Sweden and Switzerland each have 2% of global membership, but a much smaller fraction of the global population.
This year, Europe surpassed the U.S. in terms of the number of high-net worth residents (who own between $1 million and $50 million).
In terms of ultra-high net worth individuals (with net assets above $50 million), the U.S. still dominates. It's home to 42% of the group.
The U.S. is home to 32% of the world's billionaires and 41% of people whose net worth exceeds $10 million.
China's share is increasing. The number of millionaires in China is expected to double between now and 2016.
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