This article was originally published in SME Insider
Do you have $3650 (£2285) in savings or equity? Congratulations: you’re richer than 50% of people on the planet. If that doesn’t sound like a fortune, it’s because there isn’t all that much to go around. Not when half of the world’s wealth is owned by just 1% of people.
According to the latest global wealth report published by Credit Suisse, even though overall wealth has increased dramatically from $117 trillion in 2000 to $263 trillion today, this is mostly the property of a tiny minority, which owns 48.5% of the globe’s resources. The issue is particularly stark in the UK, which is the only country in the G7 to have seen inequality rise during this century. Continue reading →