'Out of Control' Inequality: Global One Percent Owns Half of World's Wealth

'Out of Control' Inequality: Global One Percent Owns Half of World's Wealth

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Credit Suisse estimates that the number of global millionaires will probably increase 46 percent to 49.3 million over the next five years.

 

 

 

By Deirdre Fulton, Common Dreams

The top one percent of households "account for half of all assets in the world," according to a new report from a leading multinational bank. 

The 2015 Credit Suisse Global Wealth Report puts worldwide wealth inequality at a level "possibly not seen for almost a century," the researchers write. The data also reveals a declining middle class and that the poorest half of the world's population owns just one percent of its assets. Meanwhile, the number of "ultra-wealthy" people continues to climb.