The globe’s richest 1% own half the world’s wealth, according to a new report highlighting the growing gap between the super-rich and everyone else. The bank said “global wealth inequality has certainly been high and rising in the post-crisis period”. These millionaires – who account for 0.7% of the world’s adult population – control 46% of total global wealth that now stands at $280tn. Collectively these people, who account for 70% of the world’s working age population, account for just 2.7% of global wealth. More than two-fifths of the world’s millionaires live in the US, followed by Japan with 7% and the UK with 6%.

Source: The Guardian November 14, 2017 07:30 UTC