And the mega rich just become richer and richer
The richest 1% of the global population took 27% of the world’s wealth growth between 1980 and 2016, while 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.
Here in Britain, the richest 1% control 22% of the country’s wealth, up from 15% in 1984. The very richest in the UK have seen a huge increase in their wealth. The top 0.1% – around 50,000 people – have seen their share of the nation’s wealth double from 4.5% in 1984 to 9% in 2013.
These are just a few figures from the latest World Inequality Report published this week. You can access that report, with an executive summary in different languages, here.