Today’s Inquirer had an article today regarding the distribution of the world’s wealth that was equally astonishing and disturbing at the same time.
A report issued by the British based charity Oxfam finds that 85, that’s right 85, people control the same amount of wealth as half the world’s population. In other words the world’s poorest 3.55 BILLION inhabitants must survive on what the wealthiest 85 people on the planet possess.
Furthermore the wealth of the top 1% of the richest people in the world have access to $110 trillion which is an amount 65 times greater than the bottom half of the world’s 7.139 billion people. Overall 69% of the world’s population controls only 3% of global wealth, with 0.7% – that is seven tenths of a percent – controlling 41% of global wealth.
The recent financial crisis and recovery was a windfall for the wealthy with an estimated 95% of the proceeds from the economic recovery flowing into the hands of the wealthy.
The World Top Incomes Database has additional information regarding wealth distribution.
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