Credit Suisse report paints a stark picture of global inequality
Less than one per cent of the world’s population now holds about 50 percent of the total private wealth, according to Credit Suisse.
In its annual Global Wealth Report the Swiss bank highlights the uneven distribution of wealth around the world; and it estimates that in 2015, 3.4 billion people, or 71 per cent of the world’s population, had wealth below USD 10,000 each.
This year the UK has moved into third place in terms of countries with the most ‘ultra high net worth’ individuals, behind the US and China. There are now 5,400 UK individuals whose wealth exceeds USD 50 million, 400 more than last year.
In August, data from Barclay’s bank showed that the number of UK millionaires had shot up by 41 per cent over the past five years. Meanwhile low-paid jobs are proliferating and food bank use soaring.
Credit Suisse predicts the number of dollar millionaires globally will rise 46.2 per cent to a record 49.3 million over the next five years, driven by China.
The overall picture in the report is one of stark inequality with more wealth predicted to climb to the already bloated top: once debts have been subtracted, a person needs only USD 3,210 to be among the wealthiest half of world citizens in mid-2015.
However, USD 68,800 is required to be a member of the top 10 per cent of global wealth holders, and USD 759,900 to belong to the top 1 per cent.
Ruby Stockham is a staff writer at Left Foot Forward
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22 Responses to “UK now has third highest number of super-rich in the world”
Rowdie111
and you seem to be one of those that are dying in our streets…..where all our cars that can’t even find space to park are having to doge over !
JohnSmith
Better they come and spend their money here in Britain than elsewhere. And better than immigrants who come to scrounge benefits paid for by hardworking British taxpayers.
Dark_Heart_of_Toryland
Self-evidently, the fact that I have access to the internet would suggest that I am not one of the rapidly growing numbers of homeless people in the UK. Have you not been to a large town in the last few years? There are too many homeless people sleeping on the pavements. There certainly is enormous wealth in the UK, but it is grotesquely maldistributed; and there is certainly a great deal of genuine poverty as well.
Serf
The Rothschild family are the richest people in world and could easily write off and cancel all global debt for everyone. There are some estimates that put the Rothschild family wealth gathered over 400 years at $500 trillion. which is possible because they do own almost all the worlds central banks and the vast majority of gold reserves. The Queen of Britain and Commonwealth has been reported to own 6,600 million acres of land estimated at 2007 value to be worth £16.7 trillion ($33 trillion) and selling a small amount of this land could eradicate the UK national debt. Obviously the ruling elites and the richest people on the planet will not use their wealth to eradicate global poverty as they would have already done this. One possible theory is the rich ruling elite genuinely believe that any and all wealth gained in their current physical life will follow them into their afterlife, though this will not happen as the afterlife according to most writers and observers does not thankfully use any financial or economic system. The most common publicised alternative economic systems to eradicate poverty will also fail in the long term such as liberalism, neo-liberalism (Thatcherism/Blairism), communism, marxism, fascism or socialism as these were devised by the ruling elite to benefit he ruling with wealth channeled upwards. Communism and marxism were devised and supported by the Rothschild’s.
One possible long term alternative to eradicate poverty is to replace the global economic system with a new regional non globalist and self sufficient system without money, without debt, without finance, without banks, a system that is open, fair, accountable and transparent to all. The replacement system would allow the rich elite to maintain their wealth and standard of living but the global resources of the planet (education, knowledge, technology, water, energy, land and communication, infrastructure etc.) would be owned by the people and shared accountably, equitably and fairly. A system that would provide free high quality goods and services to all with full human rights, without exploitation, without coercion and without debt, cleanly, safely and sustainably such as free natural and safe healthcare and non GMO foods. It would mean the people reducing family size and living their lives and not living to work for the ruling elite. Such a system will be needed as technology using artificial intelligence, robots and computers is forecast to replace the majority of work in the future.
The ruling elite are also busy deploying global human population reduction because they want to maintain their wealth. Population reduction methods include but are not limited to war, poverty, ill health, disease, vaccines, environmental pollution and social policies. The ruling elites are desperate to reduce the global human population that has increased from just under 1 billion in 1800 to over 7 billion in 2015. Previous policies to reduce human population have used deindustrialisation and restricting water and infrastructure availability and include reintroducing large carnivores to dssauade people from expanding population areas such as timber wolves in the US as part of UN Agenda 21.
Cole
So rich people who come to the UK aren’t immigrants?