A new report issued
by the Swiss bank Credit Suisse finds that global wealth inequality
continues to worsen and has reached a new milestone, with the top 1
percent owning more of the world’s assets than the bottom 99 percent
combined.
Of the estimated $250 trillion in global assets, the top 1
percent owned almost exactly 50 percent, while the bottom 50 percent of
humanity owned collectively less than 1 percent. The richest 10 percent
owned 87.7 percent of the world’s wealth, leaving 12.3 percent for the
bottom 90 percent of the population.
The Credit Suisse report focused not on the top 1 percent, but on a
slightly smaller group, the 0.7 percent of