The plutonomy is doing fine

Summary:
Double posting on the Credit Suisse Global Wealth Report (2015) (other post here). I had discussed the previous issue here. Below the Global Wealth Pyramid. Not much difference with previous one, but a bit worse. Now 71% of the population holds 3% of the wealth (before it was the 67% at the bottom held 3.3% approximately). And the top 0.7% of the population holds slightly more than 45% of total wealth.By the way, the US has added more people at the top, while Japan and Europe have lost a few. If you are interested on how many really wealthy people there are (not the 34 million people at the top of the figure above, which are the ones worth more than 1 million), here is what the report says: We estimate that there are 123,800 UHNW individuals worldwide, defined as those whose net worth exceeds USD 50 million. Of these, 44,900 are worth at least USD 100 million and 4,500 have assets above USD 500 million. UHNW means Ultra-High Net Worth (or what a decade ago Citigroup analysts called the plutonomy). So about 4,500 with a net worth above 500 million dollars.Read full report here.

Topics:
Matias Vernengo considers the following as important: Wealth Inequality

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