Out-of-Control Inequality: Global One Percent Now Owns Half of World’s Wealth (New Report)

Posted by on October 15, 2015 in Economy with 14 Comments
Credit Suisse estimates that the number of global millionaires will probably increase 46 percent to 49.3 million over the next five years. (Photo: epSos.de/flickr/cc)

Credit Suisse estimates that the number of global millionaires will probably increase 46 percent to 49.3 million over the next five years. (Photo: epSos.de/flickr/cc)

By Deirdre FultonCommonDreams.org

The top one percent of households “account for half of all assets in the world,” according to a new report from a leading multinational bank.

The 2015 Credit Suisse Global Wealth Report puts worldwide wealth inequality at a level “possibly not seen for almost a century,” the researchers write. The data also reveals a declining middle class and that the poorest half of the world’s population owns just one percent of its assets. Meanwhile, the number of “ultra-wealthy” people continues to climb.

Related Article: Why We Should Be Seething with Anger over Inequality

Credit Suisse’s analysis is in line with a warning from the international humanitarian group Oxfam, issued earlier this year, that the richest one percent of people on the planet would own at least half of the world’s wealth by 2016.

“The Credit Suisse report shows that inequality is growing faster than we had thought,” said Claire Godfrey, global inequality policy lead for Oxfam. “The fact that it has happened this year underlines the urgency of the problem.”


Furthermore, Godfrey said, the report illustrates how “the ‘trickle up’ economic model is working its magic for the super rich at the expense of the rest. This is bad news for global economic growth and bad news for democracy. Our political leaders must take action now to raise the incomes of the poor and maintain the incomes of the middle class.”

Related Article: Global Inequality is Widening – 50% of world wealth owned by the 1%

The annual report also shows that more global wealth is coming from investments—which the majority of people do not have. “Which leads to an inescapable conclusion,” NPR‘s Nancy Marshall-Genzer explained. “If the richest people in the world get more of their wealth from financial assets like stocks and bonds, the wealth gap gets even wider.”

Of course, economists have been warning of these consequences for years. As Mark Goldring, Oxfam Great Britain’s chief executive, told the Guardian: “This is the latest evidence that extreme inequality is out of control. Are we really happy to live in a world where the top 1 percent own half the wealth and the poorest half own just 1 percent?”

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14 Reader Comments

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  1. 625173657624404@facebook.com' Tattoos Art says:

    Hey I am ”Nancy” from USA i love to chat and making new friends if u follow me i follow u back and inbox u promise…

  2. 152298405121054@facebook.com' Nick Hilton says:

    Money is fake…If we all turned our back on it and learnt to work for each other to better our self’s as one race those fat fucking pedophile scum bags wouldn’t have any power at all.. its all a deception

  3. 10206038805063963@facebook.com' Kristin Lee says:

    And these are the people who are going to impose “sustainable management” policy on the rest of the world? I don’t think so…

  4. Anonymous says:

    i had heard in 2016 they will 99%

  5. 10206482226528223@facebook.com' Becky Shep says:

    not for long:)

  6. 1705716789659451@facebook.com' Frank Borgen says:

    Nick you are right the problem is that most are sheeple and don’t know how to do anything to start change or use us the masses to standup and take a here power away. People don’t know how to see and react to what’s happening right in front of their eyes like GMOs can’t live off grid can’t store or drink rain water on your own property can’t save and grow your own seeds soon they will find away to charge you to breath the air. The rights of us the people are being taken away

  7. 1453243801670680@facebook.com' Zen Hec Ryan says:

    I’m way, way down in the really really
    poor percentage of the ‘First World’
    and happy, don’t want their problems, my worlds small, can be better, they change
    what they can but it always bites them on
    the arse in the long run

  8. 10207816112941425@facebook.com' David Waldman says:

    WORKERS CONTROL THE MEANS OF PRODUCTION

    #YESWECAN #hopechange

  9. 1132730126754307@facebook.com' Erlinda Manuel says:

    Left over half of the world’s wealth will still be shared by the rest of 99% of world populace wherein the more powerful middle class will get 90%+ of the wealth leaving less than 5% of total wealth among those along poverty line and below it! Calamity or catastrophic event might be the best economist who could flatten everybody to the same level… God forbids…

  10. 10207002131965657@facebook.com' Les Cottle says:

    Take it back ……revolution

  11. 1530255593931437@facebook.com' Carleone Hogan says:

    So if someone sale america,everybody money they got in the banks at home etc is worthless.wake up they might bankrupt america take they money a run.

  12. 1201472353203462@facebook.com' Joshua Alexandre Haines says:

    In other news: Dogs go bark.

  13. 911718478895101@facebook.com' David Bailey says:

    not for long there house will soon fall down

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