Where do you rank amongst the world’s richest (and poorest) people?
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It’s been announced that 1% of the world’s wealthiest people are not only getting richer, but their total wealth accounts for more than 48% of the total global wealth.
This shocking statistic was announced earlier this month by Credit Suisse in their annual Global Wealth Report which looks at global household wealth, and in 2014 has focussed on wealth inequality around the world.
While the top 1% of richest account for such a vast amount of the global wealth, it is also just as surprising that to be in the top 50% of the world’s wealthiest people, you merely have to own $3,650 – a figure which also includes property.
The report also highlights that despite the continuing global economic uncertainty, total wealth has reached new heights rising by 8.3% to reach $263 trillion USD, meaning that the average human adult is worth $56,000.
North America accounts for nearly 35% of all global wealth (despite only accounting for just over % of the global population), while total wealth across the Asian continue to grow, albeit at a slightly reduced rate than in previous years.
Europe is not lagging too far behind North America, with over 30% of global wealth distributed amongst 12% if the world’s population.
One of the key factors in the growth in wealth has been attributed to the continuing rising trend of house prices. While the UK, China and Australia saw house prices rises of between 8% and 9%, perhaps more surprising are the rises of over 15% in Peru, the Philippines and the United Arab Emirates.
At the other end of the spectrum, nearly 70% of the world’s population (3,282m adults) are worth less than $10,000, representing just 2.9% of the total global wealth and only $1.3 trillion more than the 1,645 richest people in the world.
Where do you sit in the list of wealthiest people?
If you own more than $798,000 USD (or just under £500,000), according to the report, you would be considered to be among the top 1% wealthiest people in the world.
To be considered in the top 10% of the world’s wealthiest, you would need just $77,000 (or £48,000).
According to Forbes annual ranking of the Annual World’s Billionaires there were 1,645 billionaires in the world with a combined worth of over $6.4 trillion, with 498 of those living in the US alone.