World’s Richest People Own Half Of Global Wealth

The richest 1% of people in the world now own half of the planet’s wealth, according to a new report that highlights breathtaking levels of global inequality.

The study reveals how the super-rich have profited from the aftermath of the 2008 global financial crisis, seeing their proportion of the world’s wealth increase from 42.5% in the midst of the crisis to 50.1% now.

According to the Credit Suisse Global Wealth Report, the top 1% are now worth a total of €119.5 trillion – around eight times the size of the U.S. economy.

The wealthiest 10% of people, meanwhile, own 87.8% of global wealth.