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Richest 1percentage Own Over Half of Worlds Wealth

The world richest 1percentage of families and individuals hold over half of global wealth, according to a new report from Credit Sussie. The report suggests inequality is still worsening some eight years after the worst global recession in decades.

The report said that The bottom half of adults collectively own less than 1percentage of total wealth, the richest decile (top 10 percentage of adults) owns 88 percentage of global assets, and the top percentile alone accounts for half of total household wealth.

Put another way: The top 1percentage own 50.1percentage of all household wealth in the world. In most countries, including USA, a large wealth gap translates into those at the top accruing political power, which in turn can lead to policies that reinforce benefits for the wealthy.