"are shown in the graph on the right. According to Oxfam (2016) the richest 62 people have as much wealth as the poorest half of the world's population. We can estimate the Pareto index that would apply to this situation. Letting ε equal formula_73 we have: or The solution is that ""α"" equals about 1.15, and about 9% of the wealth is owned by each of the two groups. But actually the poorest 69% of the world adult population owns only about 3% of the wealth. The Gini coefficient is a measure of the deviation of the Lorenz curve from"
"about 0.7% of the human population's wealth, which is the same as the bottom half of the population. In January 2015, Oxfam reported that the wealthiest 1 percent will own more than half of the global wealth by 2016. An October 2014 study by Credit Suisse also claims that the top 1% now own nearly half of the world's wealth and that the accelerating disparity could trigger a recession. In October 2015, Credit Suisse published a study which shows global inequality continues to increase, and that half of the world's wealth is now in the hands of those in the"
"2000. The ""three"" richest people in the world possess more financial assets than the lowest 48 nations combined. The combined wealth of the ""10 million dollar millionaires"" grew to nearly $41 trillion in 2008. A January 2014 report by Oxfam claims that the 85 wealthiest individuals in the world have a combined wealth equal to that of the bottom 50% of the world's population, or about 3.5 billion people. According to a ""Los Angeles Times"" analysis of the report, the wealthiest 1% owns 46% of the world's wealth; the 85 richest people, a small part of the wealthiest 1%, own"
"Oxfam became one of the humanitarian groups that comprise the UK's Rapid Response Facility to ensure clean water in the wake of humanitarian disasters. A January 2014 Oxfam report stated that the 85 wealthiest individuals in the world have a combined wealth equal to that of the bottom 50% of the world's population, or about 3.5 billion people. More recently, in January 2015, Oxfam reported that the wealthiest 1 percent will own more than half of the global wealth by 2016. A 2017-released Oxfam report has stated that 8 billionaires possess the same amount of wealth as the poorest half"
"dropped by 38% between 2010 and 2015, despite an increase in the global population of 400 million. In the same period, the wealth of the richest 62 people between the World's Billionaires increased by $500bn (£350bn) to $1.76tn. This number has fallen dramatically from 388 as recently as 2010. More recently, in 2017 an Oxfam report noted that just eight billionaires own as much combined wealth as ""half the human race"". The table below lists numerous statistics relating to billionaires, including the total number of known billionaires and the net worth of the world's wealthiest individual for each year since"
"global wealth. In 2014, Oxfam reported that the 85 wealthiest individuals in the world have a combined wealth equal to that of the bottom 50% of the world's population, or about 3.5 billion people. More recently, in January 2015, Oxfam reported that the wealthiest 1 percent will own more than half of the global wealth by 2016. The major component of the world's income inequality (the global Gini coefficient) is comprised by two groups of countries (called the ""twin peaks"" by Quah [1997]). Economic inequality often closely matches a lognormal or Pareto distribution both across economies and within them. The"
"85 wealthiest individuals in the world have a combined wealth equal to that of the bottom 50% of the world's population, or about 3.5 billion people. By contrast, for 2012, the World Bank reports that 21 percent of people worldwide, around 1.5 billion, live in extreme poverty, at or below $1.25 a day. Zygmunt Bauman has provocatively observed that the rise of the rich is linked to their capacity to lead highly mobile lives: 'Mobility climbs to the rank of the uppermost among coveted values -and the freedom to move, perpetually a scarce and unequally distributed commodity, fast becomes the"
"thirds of adults in the world – have wealth below US$10,000. A further one billion(adult population) fall within the 10,000 – US$100,000 range. While the average wealth holding is modest in the base and middle segments of the pyramid, their total wealth amounts to US$40 trillion, underlining the potential for novel consumer products and innovative financial services targeted at this often neglected segment. The pyramid shows that: According to the OECD in 2012 the top 0.6% of world population (consisting of adults with more than US$1 million in assets) or the 42 million richest people in the world held 39.3%"
"American population owned 35% of the country's total wealth, and the next 19% owned 51%. Thus, the top 20% of Americans owned 86% of the country's wealth and the bottom 80% of the population owned 14%. In 2011, financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 43%, the next 19% of Americans owning 50%, and the bottom 80% owning 7%. However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 35% to 37%, and that owned by"
"of the world, including developed economies. Of the 2015 population, about 347.1 million people (35.2%) lived in Sub-Saharan Africa and 231.3 million (13.5%) lived in South Asia. According to the World Bank, between 1990 and 2015, the percentage of the world's population living in extreme poverty fell from 37.1% to 9.6%, falling below 10% for the first time. In public opinion around the world people surveyed tend to incorrectly think extreme poverty hasn't decreased. There is disagreement amongst expert as to what would be considered a realistic poverty rate with one considering it ""an inaccurately measured and arbitrary cut off""."
"those at the bottom of the economic ladder."" It has been reported that only 1% of the world population controls 50% of the wealth today, and the other 99% is having access to the remaining 50% only, and the gap has sharply increased in the recent past. In 2018, Oxfam reported that the gains of the world's billionaires in 2017, which amounted to $762 billion, was enough to end extreme global poverty seven times over. José Antonio Ocampo, professor at Columbia University and former finance minister of Colombia, and Magdalena Sepúlveda Carmona, former UN Special Rapporteur on Extreme Poverty and"
"of 152 countries. The majority of billionaires are male, as fewer than 11% (197 of 1,826) on the 2015 list were female billionaires. In 2015, there were ten LGBT billionaires. The United States has the largest number of billionaires of any country, with 536 as of 2015, while China, India and Russia are home to 213, 90 and 88 billionaires respectively. As of 2015, only 46 billionaires were under the age of 40, while the list of American-only billionaires, as of 2010, had an average age of 66. According to a 2016 Oxfam report, the wealth of the poorest 95%"
"top percentile, whose assets each exceed $759,900. A 2016 report by Oxfam claims that the 62 wealthiest individuals own as much wealth as the poorer half of the global population combined. Oxfam's claims have however been questioned on the basis of the methodology used: by using net wealth (adding up assets and subtracting debts), the Oxfam report, for instance, finds that there are more poor people in the United States and Western Europe than in China (due to a greater tendency to take on debts). Anthony Shorrocks, the lead author of the Credit Suisse report which is one of the"
"half of the population, or 160 million people, and that the growing disparity between the wealthy and the poor has created a ""moral crisis"", noting that ""we have not witnessed such extreme levels of concentrated wealth and power since the first gilded age a century ago."" In 2016, the world's billionaires increased their combined global wealth to a record $6 trillion. In 2017, they increased their collective wealth to 8.9 trillion. The existing data and estimates suggest a large increase in international (and more generally inter-macroregional) component between 1820 and 1960. It might have slightly decreased since that time at"
"time and he became the first centibillionaire included in the ranking. In 2017, 500 of the richest people in the world became richer by $1 trillion, according to a report by Bloomberg News. According to a 2017 Oxfam report, the top eight billionaires own as much combined wealth as ""the poorest half of the human race"". Each year, ""Forbes"" employs a team of more than 50 reporters from a variety of countries to track the activity of the world's wealthiest individuals. Preliminary surveys are sent to those who may qualify for the list. According to ""Forbes"", they received three types"
"of world wealth. The next 4.4% (311 million people) held 32.3% of world wealth. The bottom 95% held 28.4% of world wealth. The large gaps of the report get by the Gini index to 0.893, and are larger than gaps in global income inequality, measured in 2009 at 0.38. For example, in 2012 the bottom 60% of the world population held same wealth in 2012 as the people on Forbes' Richest list consisting of 1,226 richest billionaires of the world. At the end of the 20th century, wealth was concentrated among the G8 and Western industrialized nations, along with several"
"only 2%. According to a September 2017 report by the Federal Reserve, the top 1% controlled 38.6% of the country's wealth in 2016. Between June 2007 and November 2008 the global recession led to falling asset prices around the world. Assets owned by Americans lost about a quarter of their value. Since peaking in the second quarter of 2007, household wealth was down $14 trillion, but has since increased $14 trillion over 2006 levels. At the end of 2014, household debt amounted to $11.8 trillion, down from $13.8 trillion at the end of 2008. There were about 578,424 sheltered and"
"nearly $6 trillion out of $17.5 trillion — may now be held offshore. A large portion, £6.3tn, of offshore assets, is owned by only a tiny sliver, 0.001% (around 92,000 super wealthy individuals) of the world's population. In simple terms, this reflects the inconvenience associated with establishing these accounts, not that these accounts are only for the wealthy. Most all individuals can take advantage of these accounts. The IMF has said that between $600 billion and $1.5 trillion of illicit money is laundered annually, equal to 2% to 5% of global economic output. Today, offshore is where most of the"
"most dis-equitable economy of all the developed nations (behind Denmark and Switzerland). More sophisticated models have also been proposed. Many countries have national wealth surveys, for example: The gap between the rich and poor can be illustrated by the fact that the three wealthiest individuals in the world have assets that exceed those of the poorest 10 percent of the world's population. The net worth of the world's billionaires increased from less than $1 trillion in 2000 to over $7 trillion in 2015 so the gap is increasing dramatically. Personal wealth varies across adults for many reasons. Some individuals with"
"the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15% in 2007. Financial inequality measured as the total net worth minus the value of one's home was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7% per Forbes in 2011. After the Great Recession started in 2007, the share of total wealth owned by the top 1% of the population"
"be achieved by 2015. According to Global Wealth Report 2016 compiled by Credit Suisse Research Institute, India is the second most unequal country in the world with the top one per cent of the population owning 58% of the total wealth. Global Hunger Index (GHI) is an index that places a third of weight on proportion of the population that is estimated to be undernourished, a third on the estimated prevalence of low body weight to height ratio in children younger than five, and remaining third weight on the proportion of children dying before the age of five for any"
"20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15% —an example of the Pareto principle. Financial inequality (total net worth minus the value of one's home) was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%. However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans"
"(after deducting residential and passion investments such as art, planes, yachts and real estate). At per the last count, there were 211,275 UHNW individuals in the world, with a total combined net worth of US$29.7 trillion. Billionaires are a special category of UHNW individuals, having net worth in excess of US$1 billion. According to the Billionaire Census 2014, there were 2,325 billionaires in the world, with a combined net worth of US$7.3 trillion. In 2014, these individuals represented just over 1% of the world's UHNW population and 24% of the world's UHNW total wealth. The June 27, 2017 ""World Ultra"
"Asian and OPEC nations. A study by the World Institute for Development Economics Research at United Nations University reports that the richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total. The bottom half of the world adult population owned 1% of global wealth. Moreover, another study found that the richest 2% own more than half of global household assets. While sizeable numbers of households own no land, few have no income. For example, the top 10% of land owners (all corporations)"
"the richest 2% own more than half of global household assets. Despite this, the distribution has been changing quite rapidly in the direction of greater concentration of wealth. Nevertheless, powerful nations with large economies and wealthy individuals can improve the rapidly evolving economies of the Third World. However, developing countries face many challenges, including the scale of the task to be surmounted, rapidly growing populations, and the need to protect the environment, and the cost that goes along with facing such challenges. Climate change and global warming reflects the notion of the modern climate. The changes of climate over the"
"and other royalty are not included in the list. The World's Billionaires 2015 The World's Billionaires 2015 edition was the 29th annual ranking of The World's Billionaires by ""Forbes"" magazine. The list estimated the net worth of the world's richest people. The new list was released online on March 2, 2015. As of 2015, Bill Gates had been placed at the top of this list 16 times. Bill Gates was again named the richest person in the world in ""Forbes"" Magazine's annual list of the world's billionaires. This is the 16th time that the founder of Microsoft has claimed the"
"trillion in 2013, which was more than the combined net worth of the bottom 50% of U.S. households. The average net worth of these 400 Americans was $5 billion. The lower 50% of households held 3% of the wealth in 1989 and 1% in 2013. The average net worth of the bottom 50% of households in 2013 was approximately $11,000. This wealth inequality is apparent in the share of assets held. In 2010, the top 5% wealthiest households had approximately 72% of the financial wealth, while the bottom 80% of households had 5%. Financial wealth is measured as net worth"
"the real estate sector, UHNW individuals are particularly relevant, with the total UHNW population's real estate holdings accounting for over US$5 trillion, or 3% of the world's real estate holdings. This is a huge proportion considering this population is only 0.003% of the world's population. Ultra high-net-worth individual Ultra high-net-worth individuals (UHNWI) are defined as having a net worth of at least US$30 million in constant 2018 dollars. It is the wealth segment above very-high-net-worth individuals (>5 million) and high-net-worth-individuals (>1 million). Although they constitute only 0.003% of the world’s population, they hold 13% of the world's total wealth. By"
"sources of Oxfam's data, considers the criticism about debt to be a ""silly argument"" and ""a non-issue . . . a diversion."" Oxfam's 2017 report says the top eight billionaires have as much wealth as the bottom half of the global population, and that rising inequality is suppressing wages, as businesses are focused on delivering higher returns to wealthy owners and executives. In 2018, the Oxfam report said that the wealth gap continued to widen in 2017, with 82% of global wealth generated going to the wealthiest 1%. According to PolitiFact the top 400 richest Americans ""have more wealth than"
"half of all Americans combined."" According to ""The New York Times"" on July 22, 2014, the ""richest 1 percent in the United States now own more wealth than the bottom 90 percent"". Inherited wealth may help explain why many Americans who have become rich may have had a ""substantial head start"". In September 2012, according to the Institute for Policy Studies (IPS), ""over 60 percent"" of the Forbes richest 400 Americans ""grew up in substantial privilege"". A 2017 report by the IPS said that three individuals, Jeff Bezos, Bill Gates and Warren Buffett, own as much wealth as the bottom"
"at 145,000 in 2015. This number is out of a total of approximately 570,000 people (or about 7% of the total population) living in poverty. This number shows a slight increase from 2014 when it was 6.6%. In the same year, 8.9% of the population was making less than 50% of the median equivalised income (about , ), with 4.5% making less than 40% (, ). The median equivalised income is a number which half of the population makes more than, while half makes less. Because it uses the median it is less affected by the extremely rich. Several groups"
"The World's Billionaires 2015 The World's Billionaires 2015 edition was the 29th annual ranking of The World's Billionaires by ""Forbes"" magazine. The list estimated the net worth of the world's richest people. The new list was released online on March 2, 2015. As of 2015, Bill Gates had been placed at the top of this list 16 times. Bill Gates was again named the richest person in the world in ""Forbes"" Magazine's annual list of the world's billionaires. This is the 16th time that the founder of Microsoft has claimed the top spot. Carlos Slim, Mexican business magnate, came in"
"of basic needs. Food, clean water, or even health care are some of the things that many countries live without. According to the United Nations Human Development Report 2004, the gross domestic per capita (GDP) in countries with high, medium and low human development (a classification based on the UN Human Development Index) was 24,806, 4,269 and 1,184 PPP$, respectively (PPP$ = purchasing power parity measured in United States dollars). The wealthiest people in the world, especially those with over $100,000 in assets, 1.8% of the global population own 86.4% of the overall wealth (See data for more information). In"