New York: It’s an excellent time to be rich, especially in the US. Even as economic growth has slowed, the rich have managed to gain a larger slice of the world’s wealth. These rich folk represent just 1% of the world’s population, but they hold 45% of the world’s $166.5 trillion in wealth. They will control more than half the world’s wealth by 2021, BCG said. Unsurprisingly, for a country where almost a quarter of income goes to the rich and where they hold the highest concentration of wealth, a big chunk of the world’s richest call America home.

Source: Mint June 16, 2017 15:00 UTC