Richest 1% Took 38% of New Global Wealth Since 1995. The Bottom Half Got Just 2%

World Inequality Report chart

The new analysis shows that 2020—a year of pandemic-induced economic dislocation that pushed tens of millions of people worldwide into extreme poverty—marked “the largest increase in the share of global billionaires wealth available on record.” “In the U.S., the return of top wealth inequality has been particularly dramatic, with the top 1% share nearing 35% in 2020, approaching its Gilded Age level,” states the report, whose contributors include prominent economists Thomas Piketty and Gabriel Zucman. “In Europe, top wealth inequality has also been on the rise since 1980, though significantly less so than in the U.S.” At present, the richest 10% of the world’s population grabs more than half of all global income, the researchers found. The billions of people in the poorest half of the global population, meanwhile, get just 8% of the world’s income.

Source: Richest 1% Took 38% of New Global Wealth Since 1995. The Bottom Half Got Just 2%

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.