Since 2020, the richest 1% of people have accumulated close to two-thirds of all new wealth created around the world, according to a new report from Oxfam.
Have to wonder if it is even correct to call them “1%”. One percent of the world’s population right now is what, eighty million people? That’s a decently sized country basically. Over half of Russia’s population for comparison. Eighty Latvias.
Are there really that many billionaires, or is it closer to 0.01%?
It seems like it’s more of an artifact that majority of global population lives in abject poverty. According to the 2018 Global Wealth Report, you need a net worth of $871,320 with net the worth being the value of financial assets plus real assets (principally housing) owned by households, minus their debts. A significant portion of westerners qualify, hence why the west is referred to as the golden billion.
Have to wonder if it is even correct to call them “1%”. One percent of the world’s population right now is what, eighty million people? That’s a decently sized country basically. Over half of Russia’s population for comparison. Eighty Latvias.
Are there really that many billionaires, or is it closer to 0.01%?
It seems like it’s more of an artifact that majority of global population lives in abject poverty. According to the 2018 Global Wealth Report, you need a net worth of $871,320 with net the worth being the value of financial assets plus real assets (principally housing) owned by households, minus their debts. A significant portion of westerners qualify, hence why the west is referred to as the golden billion.
Ah I stand corrected then. Thank you