According to a Credit Suisse report, the globe’s most wealthiest 1% own half the world’s wealth.
The Credit Suisse report also comes with a warning that millennials are unlikely to attain their parents’ levels of wealth.
The world’s wealthiest have seen their share of the globe’s total wealth go up from 42.5 percent in 2008 to 50.1 percent in 2017.
Credit Suisse said: “The downward trend reversed after 2008 and the share of the top one percent has been on an upward path ever since, passing the 2000 level in 2013 and achieving new peaks every year thereafter.
“According to our latest estimates, the top one percent own 50.1 percent of all household wealth in the world.”
“Global wealth inequality has certainly been high and rising in the post-crisis period,” the report continued.
Number Of Millionaires
With 15.3 million people worth $1 million or more, the USA tops the list of the country with the most millionaires.
Japan comes in second with 2.7 million millionaires, and the United Kingdom in third with 2.2 million.