The 1% Are Doing Just Fine

Here is news that will get very little coverage in the Bought-n-Sold US o’A.

World’s richest 1% own 40% of all wealth, UN report discovers

· First ever study of global household assets
· 50% of world’s adults own just 1% of the wealth

The richest 1% of adults in the world own 40% of the planet’s wealth, according to the largest study yet of wealth distribution. The report also finds that those in financial services and the internet sectors predominate among the super rich.

Europe, the US and some Asia Pacific nations account for most of the extremely wealthy. More than a third live in the US. Japan accounts for 27% of the total, the UK for 6% and France for 5%.

The global study – from the World Institute for Development Economics Research of the United Nations – is the first to chart wealth distribution in every country as opposed to just income, for which more comprehensive date is available. It included all the most significant components of household wealth, including financial assets and debts, land, buildings and other tangible property. Together these total $125 trillion globally.

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