World’s richest 0.1% have boosted their wealth by as much as poorest half


World’s richest 0.1% have boosted their wealth by as much as poorest half. Inequality report also shows UK’s 50,000 richest people have seen their share of the country’s wealth double since 1984.

The richest 0.1% of the world’s population have increased their combined wealth by as much as the poorest 50% – or 3.8 billion people – since 1980, according to a report detailing the widening gap between the very rich and poor.

The World Inequality Report, published on Thursday by French economist Thomas Piketty, warned that inequality had ballooned to “extreme levels” in some countries and said the problem would only get worse unless governments took coordinated action to increase taxes and prevent tax avoidance.

The report, which drew on the work of more than 100 researchers around the world, found that the richest 1% of the global population “captured” 27% of the world’s wealth growth between 1980 and 2016. And the richest of the rich increased their wealth by even more. The top 0.1% gained 13% of the world’s wealth, and the top 0.001% – about 76,000 people – collected 4% of all the new wealth created since 1980.

POD Research: Interesting Read:


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